Bitches: big divide is before or after first season.
Before: - easier surgically, therefore quicker, safer operation and quicker recovery (broadly speaking, the older and/or fatter the bitch, the worse in surgical terms, although in practice obesity matters more than age)
- no chance of getting pregnant or season nuisance, even once
- risk of mammary tumours in later life cut to pretty much zero
After - genitals have chance to mature, therefore some people think reduced risk of "infantile vulva" - v small recessed vulva, more prone to infection - personally I think this is true
- some people think better mentally if slightly more mature, though probably makes no difference
- still strong protective effect against mammary cancer if has had only 1 or maybe 2 seasons, but none if has had 4 or more before spaying
Benefits of spaying at any age - big one is pyometra (infection of the womb) - life-threatening emergency which is quite common in unspayed bitches and almost unknown in spayed ones.
Disadvantages of spaying at any age - if also overweight, increased risk of urinary incontinence due to lack of female hormones - this can generally be managed well by medication and/or weight loss
- increased tendency to weight gain - need not become overweight, however, as long as food and exercise adjusted ruthlessly - may need only 2/3 or less of previous amount of food for adult
- changes in coat - especially setters and spaniels - often develop thick wooly undercoat - not a health problem but worth knowing about.
Personally, where I work we generally spay either before or after the first season, depending on owner preference - but we are in a fairly rural area with quite clued-up and traditional-minded clients. In urban areas, I can well see why spaying before the first season may have the edge (having just survived a bitch in full season with aforementioned young male also in the house - not fun...)
Slower metabolic rate and coat changes also apply to males, so OP, be aware that your cockerpoo may grow a coat like a Yeti after neutering!
Hope I haven't left anything out!