Cofunds, the UK’s leading independent platform, has announced that it has signed an outsourcing contract with RC Brown Investment Management PLC (RCBIM) to support its newly launched discretionary investment management service for clients with more than £25,000 to invest.
The agreement involves RCBIM adopting Cofunds’ institutional service which addresses the needs of those discretionary investment managers and execution-only brokers that invest in sterling denominated funds. It provides a comprehensive facility offering; funds trading, settlement, custody and trail management.
The Bristol-based investment manager has recently extended its discretionary investment service to cater for the smaller private client.
The comprehensive nature of Cofunds services built on a proven, scalable platform access a broad universe of funds.
Alan Beaney of RCBIM said of the move to appoint Cofunds: “With the Cofunds institutional service, we are confident we have an extremely safe pair of hands to support the launch of our discretionary investment management service as it not only has a comprehensive mix of services and a broad universe of funds but thanks to the way it is run and financed it also offers peace of mind for the long-term future in such unstable times.”
Stephen Mohan, Cofunds’ Operational Services Director said: “Cofunds’ institutional service has a significant role to play, supporting discretionary investment managers in the way that best suits their business and this latest appointment by RCBIM is a further endorsement of that role. The team, headed up by Richard Adler, very much look forward to working with RCBIM and helping them nurture and grow their new discretionary investment manager business.”