Hargreaves in tie-up with Staffcare
Alex Davies, of the Bristol-based firm, said Hargreaves has licensed Staffcare’s software to create what it believes will be the UK’s first fully integrated corporate wrap and flexible benefits solution.
He said the alliance would enhance its corporate wrap proposition and functionality and provide total reward statements, flexible benefits and auto-enrolment administration facilities.
Mr Davies said: “Our corporate wrap offers employees an alternative to traditional company pensions and is gaining considerable traction in the market - some 39 companies are now live. The additional functionality we can now deliver as a result of licensing Staffcare’s software gives it even more of a competitive edge.”
Hargreaves Lansdown has hired people into its corporate team with extensive experience, including Jeff Fox and Steve Briggs, both of whom have previously used Staffcare’s software and implemented some of the largest reward communication and flexible benefit schemes in the UK.
Phil Hollingdale, Staffcare founder and chief executive, said: “The adviser’s platform is a clear leader in the market and having worked closely with the team at Hargreaves Lansdown for some time I have every confidence it will position itself quickly as a dominant player in the corporate space.
“Hargreaves Lansdown has some great software and we believe working together we will secure significant market share. Platforms will become a necessity to support new auto-enrolment regulation and to satisfy the demand of internet-savvy users in the workplace who want an engaging online experience.”
Mr Davies added: “After an extensive review of the benefit platforms available, we believe Staffcare is the clear leader. Its software, which is developed continually, and its new auto-enrolment service in particular will be a core part of our workplace savings proposition.”