The wrap operations director for the adviser-influenced wrap said the decision to use Origo’s Options Transfers solution to power the platform’s re-registration and asset transfer proposition would help end the hassle that advisers have been facing over lengthy processes.
The new service, which is available to Nucleus users with immediate effect, will provide advisers with a solution designed to allow the transfer of client assets from one platform to another in the easiest and most efficient way available on the market.
Mr Spence said: “Origo’s service will allow platforms to move away from the paper driven processes that have plagued platform to platform re-registration in the UK for years to a streamlined solution that provides straight-through processing.
“The idea that in 2013 advisers and their clients are unable to move assets between different platforms as easily and efficiently as they can their mobile phone accounts or utility providers is laughable and something we have been campaigning hard to change for many years.”
He said the system was an “important” part of Nucleus’ commitment to advisers and delivering the best outcomes for clients.
This came a few weeks after the FCA announced it had concerns about how some platforms are dealing with the issue of re-registration and the speed with which they are able to move assets.
Paul Pettitt, managing director of Origo, said: “Options Transfers provides a re-registration solution for platforms and providers across a range of assets and product wrappers, including stocks and shares Isas, Gias - and importantly, full support for self-invested personal pension assets and wrappers.
“A fully proven, ‘plug and play’ service, it enables platforms and providers to offer an automated re-registration service quickly and efficiently to advisers and their clients.”
