Moving Your Investments

The rplan.co.uk site has now ceased servicing retail investors. We wanted to thank you for your support and feedback over the past 7 years - it has been an incredible journey. If you haven't yet moved your investments away from the rplan.co.uk retail service, you can do so by either:

Change of Agency

You can stay on the Cofunds platform (our administration provider) and change the intermediary you manage your investments through. This request will need to be placed with your new provider, who will carry out the transfer process with Cofunds.

A Change of Agency typically takes 1-2 weeks to complete. You will need to give them your Cofunds Client Reference, which you can find on correspondence from them. Please check the charging structure of the new provider, as it may be different to that of rplan. You can find a full list of all Cofunds intermediaries here.

Transferring your Investments

You may transfer away from Cofunds completely. This request will need to be placed with your new provider, who will carry out the transfer process with Cofunds.

Whilst you will no longer have access to rplan, your new provider can track the status of your transfer and keep you updated along the way until your holdings are available on their platform. Please note that Cofunds are your plan manager, so you will need to include the following details on your transfer request:

Cofunds Ltd
Po Box 1103
Chelmsford
CM99 2XY

Cofunds' Telephone Number: +44 345 604 4001

You will also need to mention your Cofunds Account Number (also known as the Platform Account Reference), which can be found on paper correspondance from Cofunds or which you can call Cofunds to obtain. If you are moving multiple products away from rplan, for example an ISA and a General Investment Account, you may need to complete a transfer request for each product and include the respective account numbers.

The duration of the transfer process will depend on the type of transfer you have requested. In our experience, it typically takes 4-6 weeks, but your new provider will be able to give you further details. Please also note that any money in your Cash Account will not be transferred as part of your transfer request unless requested by your new provider. Alternatively, you can request that it is withdrawn as per the withdrawal process (see below).

You can research other available platforms on Compare Fund Platforms or on the FCA Register.

Selling your Investments

If you wish to sell your investments and withdraw the proceeds, you will need to contact Cofunds to request a Fund Withdrawal Form.You will need to complete, sign and return the form to Cofunds so they can process the instruction. It typically takes 10-12 business days for Cofunds to complete a sale and withdrawal request. Please note that selling your ISA holdings will affect your ISA allowance.

If you do not have a verified nominated bank account set up with Cofunds, they will automatically default to making the payment by cheque, which will be posted to your registered address.

If you wish the payment to be made to a nominated bank account and you do not currently have one setup, you will need to include an original or certified copy of your bank statement (dated within the last three months) with your withdrawal request. Cofunds can then verify your bank account and process the withdrawal at the same time. If you are unsure if you already have a verified bank account set up, you can contact Cofunds to check on +44 345 604 4001.

It typically takes 10 business days to complete a sale and withdrawal. Please note that if you have an outstanding Anti-Money Laundering status on your account, you will need to complete verification before you are able to withdraw. Also, please note that selling your ISA holdings will affect your ISA allowance.

Withdrawing your Cash

If you wish to withdraw any cash held in the Cofunds Cash Account, you can download a sample withdrawal request here to print, complete and send to Cofunds. Once Cofunds has received your letter, you should receive the proceeds within a 3-5 days, along with a confirmation note by post.

Please note that if you do not have a verified nominated bank account set up with Cofunds, they will automatically default to making the payment by cheque, which will be posted to your registered address.

If you wish the payment to be made to a nominated bank account and you do not currently have one setup, you will need to include an original or certified copy of your bank statement (dated within the last three months) with your Withdrawal Request. Cofunds can then verify your bank account and process the withdrawal at the same time. If you are unsure if you already have a verified bank account set up, you can contact Cofunds to check on +44 345 604 4001.

Outstanding Anti-Money Laundering or Gone Away Status

If you have an outstanding Anti-Money Laundering or Gone Away status on your account, you will need to complete verification before you are able to withdraw cash from your Cofunds Cash Account. You can contact Cofunds directly to find out how to verify your identity on +44 345 604 4001.

FAQ

What will happen to my rplan.co.uk investments now?

Your investments and cash are held on the Cofunds platform, so they will not be affected by rplan's decision to cease servicing retail investors.

What will happen to my regular monthly investment if I move away?

If you have a regular monthly investment by direct debit, this will automatically be cancelled once you have either transferred or sold all units from a fund. If your transfer or fund withdrawal application is submitted around the time of the direct debit collection date of the 25th, you may wish to cancel the direct debit in advance with your bank directly.

Is rplan Shutting Down Completely?

No. rplan launched in 2011 with the mission of revolutionising consumer investing. As well as our groundbreaking retail offering, we developed solutions for financial institutions looking at re-engaging with their investment client community. The revenue from that line of business has grown very rapidly, long overtaking our consumer offering. As a result, we have taken the difficult decision to shut down our consumer service, to allow us to fully focus on developing our solutions business. rplan will continue operating purely as a fintech software provider for financial institutions.

Are there any charges incurred for moving my money to another provider?

There are no charges from rplan or Cofunds to transfer or withdraw your investments, but it is always worth checking with your new provider if there are any fees incurred to make a transfer to them