Managed account toolkit released
Stuart Holdsworth
Managed account specialists Financial Simplicity has announced the release of its Open Edition technology toolkit, which aims to help platforms and distribution groups offer their own managed account products.
Financial Simplicity managing director Stuart Holdsworth said Open Edition offers a powerful head start for any provider seeking to develop the technology base for offering a managed account product, and is well suited to the growing number of platforms seeking to get into managed accounts.
“Investment platforms are the ideal starting point for offering managed accounts, as they essentially can provide a managed account back-office that is already a part of established industry practices and workflows,” he said.
“Platforms just need to add and integrate Open Edition’s portfolio modelling, rebalancing and trade allocation functions in a purposefully designed user interface and off they go.
According to Holdsworth the growing numbers of dealer groups are seeking to develop their own managed accounts yet outsource the administration to their platform providers.
“Several of our customers operate this industry breakthrough model already, which highlights that managed account providers do not necessarily have to invest into the establishment and operation of a dedicated in house administration team, a challenge in a tight labour market.”
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
