Foster Denovo  

Foster Denovo reveals who will build platform

Foster Denovo reveals who will build platform

Foster Denovo has struck a deal with tech firm Host Capital to build its platform proposition.

Foster Denovo is currently in the early stages of piloting a platform which bosses at the financial advice business claim will offer cutting-edge functionality, service capability and disruptive pricing.

The firm will use Host Capital's Digital Wealth Solutions (HCDWS) as the underlying technology.

The system is underpinned by Third Financial Service's Tercero software, an award-winning next generation platform service for outsourced middle and back-office operations, used to manage over £40bn of assets currently.

The deal comes after rival platforms faced multiple problems when replatforming using FNZ-powered technology last year.

The Aviva and Aegon platforms experienced weeks of disrupted service with both firms later forced to compensate clients.

Roger Brosch, chief executive of Foster Denovo, said "For some time we have wanted to provide our clients and partners with access to our own, tailored platform and we felt now was the right time.

"After a period of extensive due diligence, we chose to work with Host Capital.  We have confidence that their team can offer the right blend of discretionary risk adjusted model portfolios and cutting edge software."

Geoff Brooks, director at Host Capital's Digital Wealth Solutions, said: "We are delighted to build on our existing relationship with Foster Denovo and to be part of this exciting new phase in the organisations offering."

 

Foster Denovo plans to launch its platform later on in 2019.

emma.hughes@ft.com