Quilter to broaden platform’s appeal as last migration looms

Quilter to broaden platform’s appeal as last migration looms
Credit: Oleg Magni from Pexels

Quilter is aiming to attract advisers to make greater use of its new platform, as it prepares for the last migration this weekend.

The final migration of assets onto the new platform is scheduled to complete this weekend (27-28 February).

Jeremy Mugridge, head of UK proposition marketing at Old Mutual Wealth, said: “There are a lot of advisers who use us as their primary platform. There is a very large number as well who we’re not necessarily number one pick, but they have clients with us.

“This is a great opportunity that we’ve got. The whole point of this piece of work was to fill in the gaps that had opened up.”

Mugridge said that after filling in gaps in the proposition, the wealth manager hoped the platform would now appeal to advisers who used it less frequently.

He said: “The platform has been built to help [advisers] deliver a great service to all their customers. We don’t want just a part of your book. We’ve got an offering that can meet a variety of customer needs.”

Mugridge added: “For those advisers who have, say, high net worth clients and they want to offer a discretionary fund management solution, we can do that now.”

The migration will see 5,500 advice firms move to the new technology, bringing the total to around 8,000 firms that will be on the new platform after this weekend.

Quilter completed the second stage of migration in November, when 70 per cent of assets and some 2,000 advice firms were transferred to the new platform.

The company split the second part of its migration into two phases to manage logistical constraints presented by the pandemic, with the upcoming final migration coming two years after Quilter’s soft launch.

Quilter previously told FTAdviser it had “learned some lessons” from other platforms that had made similar changes, and had therefore split up migration groups and pushed deadlines back to be “extra cautious”.

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