Ascentric looks to overhaul technology

Wrap platform Ascentric is approaching platform technology firms with a view to overhauling its user interface and potentially outsourcing the running of its back office systems, Investment Adviser can reveal.

Dominic Ventham, head of marketing at Ascentric, said the company was undertaking a review of the technology behind the wrap to offer the best possible service to advisers.

“We are reviewing our front end and back office technology at the moment,” he said.

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“The changes will mean we are best placed to provide a user-friendly front office user interface.

“We are also looking to see if back office could be provided by a third party.”

The group said it was considering two of the largest players in the platform technology space –Australian-based GBST and FNZ – among other firms.

“What advisers would notice would be any changes to the front office,” he said.

“Back office [changes] would have very little impact on advisers currently using the platform. We are looking at different options at the moment and will have more information later this year but the process of improving the platform technology is ongoing.”

In February 2012 AXA Wealth’s platform Elevate entered into a new long-term strategic agreement with technology, transaction and custody services provider FNZ, to “provide substantially more proposition support and development”. The firm also works with platform giant Standard Life.

GBST provides Novia’s core operating system and provides technology for the Aegon wrap.