PlatformsOct 9 2013

7IM and Raymond James to join auto re-reg move

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Platforms including Seven Investment Management (7IM) and Raymond James are to join the growing number of platforms and fund managers offering automated re-registration from one platform to another after its technology supplier announced plans to automate its systems.

Pershing - which powers 7IM’s and Raymond James’s platforms - is to offer electronic re-registration, meaning advisers can move assets between platforms more quickly. The full update is expected to be completed later this year.

It is the latest development in an industry-wide move to speed up the process of transferring investments between platforms, involving automating systems at platforms, fund managers and administrators.