On hearing the news that Royal London is looking to sell its adviser platform Ascentric, Tom Ellis offers his thoughts on the unorthodox history of the life company’s dabble in the adviser platform world…
Years of re-platforming struggles: check. Messy platform migration: check. Sell to another company and let them repeat: task ongoing… Royal London has fulfilled all the adviser platform market obligations, though it has been an slightly odd journey for the life company. For starters, it has been invested in the Ascentric platform since 2007, though it didn't fully own the company until 2015. This is unorthodox in that the platform had already begun the nightmare of a shift to new technology when Royal London went all-in - platform acquirers usually look to begin that despairing state ...
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