St. James's Place (SJP) has passed the £200m mark in its re-platforming move, according to the firm's half-year update.
SJP's latest results showed the firm has spent a total £201.2m on what it referred to as an "operational readiness project" - its new Bluedoor platform - while it spent £15.2m on the project in the first half of 2018. The advice giant said it has now "broken the back" of its multi-year project after it successfully migrated its pensions drawdown book of business onto the Bluedoor platform May. It also said more than 70% of new business is now written on the new platform, while 39% of all funds under management were recorded on the new system. The cruel reality of re-platforming I...
To continue reading this article...
Join Professional Adviser for free
- 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