Service links funds, life and pension products, mortgages and equities
Fundsdirect is offering an integrated dealing and settlement solution for UK intermediaries.
Fundsdirect's chief executive officer, Sean Ewing, said: 'The provision of a proven trading platform integrated across a product set to include funds, life and pensions, mortgages, insurance and equities is what advisers have demanded for many years. We are enabling the intermediary to compete in a new world post-depolarisation.'
The platform can provide multi-wrap and fund of funds capability to product providers who are intending to support and assist the proposed authorised financial adviser environment, Ewing added.
The solution aims to provide intermediaries with a single trading solution covering a number of product vehicles including equities, investment funds, of which the platform offers access to more than 1,500, own branded Isas, Peps, Pep transfer, insurance, mortgages, life and pensions and protection capability.
In addition, it will provide consolidated valuations for advisers and up to date commission tracking capability. Individual client valuations will also be available.
The platform will be distributed through selected software vendor partners and to select intermediary groups and product providers.
Speaking at the Adviser.tech event held in Manchester, earlier this month, Fundsdirect announ- ced the expansion of its strategy to launch this service, working with Microsoft in a technical partnership. Further details of its plans for this area are to be released in the coming weeks.
Meanwhile, London-based financial solutions company COR, a provider of software for asset management, banking and trading, has bought risk management company BITA Plus Consultants in a £2.3m deal.
COR has acquired BITA Plus as a strategic extension of its existing range of software services, and with the view that more sophisticated risk analysis will have a much greater role to play in asset management in the coming years.
Steve Osborne, chairman and chief executive of COR, said: 'Fund managers are under intense scrutiny by their clients and trustees of pension funds to add value to portfolios within clearly understood risk parameters. Especially in light of the recent high profile industry events, there is a pressing desire to raise reporting standards in the investment industry.
'BITA Plus products give asset managers the tools to analyse and model the risk of their portfolios as well as structure the risks in line with a given set of investment objectives. Crucially, it also allows them to understand the risk associated with a portfolio and keep their customers better informed of risk at any time ' thereby greatly reducing the possibility of unpleasant surprises.'
Laurence Wormald, BITA Plus director of research, added: 'Fund management firms cannot separate risk management from portfolio modelling, and rebalancing. By bringing together portfolio risk reporting, performance measurement and modelling, in a pre- not post trade environment, asset management companies will have a much sounder basis to undertake the investment process.'
With BITA Plus software, fund managers have the option to use it for both pre-trade and post trade reporting. It provides back-testing abilities, enabling managers to run historic simulations of buying and re-balancing the portfolio based on different risk and investment scenarios until they have developed an optimum strategy to meet their particular investment objectives.
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