Wraps versus back office technology

The thorn in the side of wraps could be IFAs’ existing back office technology, according to Anthony Badaloo, principal at Church Hill Finance. He says it will soon become good enough to eliminate the need for wraps and IFAs could soon use in-house ‘super wraps’ to store their clients’ data. He highlights super wraps’ ability to store historic client data as an advantage over wraps, which he says are likely to give low priority to customers who wish to transfer funds to another wrap. “If back office technology develops at the rate it is at the moment, there will be no need for a wrap,” he ...