The managing director of Equiniti Investment Services said Equiniti Wealth Solution, had been developed in response to “growing regulation and the requirement for a commoditised back office which is not prohibitively expensive”.
The service is targeted at wealth managers and brokers, and will, according to Mr Taylor, help reduce the cost of processing and enable users to spend more time with clients. The service will also include an investor interface.
He said: “The wealth and broking space is facing unprecedented pressures which current back office solutions are simply not addressing. Our platform provides an opportunity to outsource a number of non-core functions and allows brokers to focus on managing client assets, which is where their value lies.”
According to Mr Taylor, Equiniti has 20m holdings and is processing “significant volumes of transactions”, both in the institutional and the retail world.
He added: “We have systems and processes which deliver cost reductions.
“Our existing processes provide outsourced custody, settlement for stocks, funds and fixed interest securities and we are working with brokers to use this to develop a universal solution that uses the existing technology and satisfies their requirements.”