Being part of a large software organisation, it is interesting to see how the emerging technology propositions for wrap accounts differ quite radically in their approach. Several are putting forward a one-stop shop where all clients are captured onto the host wrap platform, which includes a database, and a range of risk profiling and modelling tools.
The notion of advisers using one provider and all its tools, whilst logical and efficient in theory, was predicated on the move towards multi-tie, which with the odd notable exception has not really materialised. Advisers still have major concerns about putting all their eggs in one basket, both from an independence perspective and also for fear of the platform running into difficulties and even going under. There are several recent examples to justify caveat emptor, and it will be interesting to see how many wraps will establish critical mass of funds under management and be around for th...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
