Standard Life has gone live with financial services consultancy firm Altus for automatic re-registration.
The Retail Distribution Review mandated that all platforms, providers and fund managers should allow for re-registration of client assets. Automating this process is a voluntary measure.
Standard Life will now use the Altus Transfer Gateway software to power its automated re-registration process.
Standard Life head of wrap platform Ross Easton said: "We are delighted we are now able to support electronic re-registration of assets. We would expect the industry to continue to adopt this approach and we are keen to be in the vanguard for that."
Research by Altus found that seven platforms representing some 53% of assets under management in the UK have moved to an automatic system for re-registration of assets.
£1bn business since inception
Considered doing so in 2015
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