The Board has thanked Brett for the contribution he has made to Cofunds. Over the last three years Cofunds has pursued a strategy to meet the demands of our clients and the market; Brett has played an important role in this, including helping the business break through the £25bn AUA barrier. The Board wishes him well for the future.

Whilst Cofunds looks to recruit a permanent replacement, the Board is extremely pleased that Charlie Eppinger will be returning to the role of CEO with his wealth of experience and knowledge. Charlie will manage the business as Cofunds continues to pursue its strategy. Current Board member Simon Davies, Chairman of Threadneedle, takes over from Charlie as Cofunds Chairman.

Charlie says of his return: "Cofunds is a great company and has a strong management team already in place. The shareholders are keen to harness that strength and accelerate the pace of growth in the business to match the changes in the industry as a whole. The Board recognises the need for continual investment and a real focus on serving our customers. We are committed to the success of the business and its continued independence.

"Cofunds is in great shape; assets and revenue are growing, the company is firmly in profitable territory and is well on its way to cementing its position as the leading platform for financial planning in the UK."