Saltus completes platform migration

Saltus completes platform migration

Wealth management firm Saltus has upgraded its platform.

Saltus, which is based in St James in London, has assets under management of £1.2bn.

The company hired Multrees to carry out the replatforming.

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The work took three months, with the bulk migration having over one weekend, following tests.

Clive Stelfox, chief operating officer at Multrees Investor Services, said he feels the traditional way in which replatforming happens is "outdated" as it involves the technology provider telling the client what services it can provide, rather than the client deciding what they want to have.

Saltus said its priorities for the replatforming were custody and reconciliation, as well as onboarding of clients.

He said: "We're delighted to be able to support Saltus' ambitious plans for growth and look forward to working with them.

"The big box approach to service provision, where providers dictate an operational model to clients, just doesn't work anymore in our view.

"Our clients want the benefit of scalability driven by improved process efficiency, delivered in a collaborative and flexible way that suits their business needs. That is exactly as it should be."

Nick Stebbing, chief operating officer at Saltus, said: "Their transparent pricing structure and clear plan for the project gave us confidence from the outset and, in just three months, Multrees has managed to do what the rest of the industry would take at least 6 months to achieve."