Ascentric and Cofunds in dual platform deal with Towergate
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Ascentric and Cofunds are to white-label platforms for Towergate Financial as part of a dual platform strategy catering for different elements of its client base.
Towergate is partnering with Investment Funds Direct, Ascentric’s white-label service, to power its wealth platform.
The Towergate Financial wealth platform will target the mid to high-net-worth client base who have a higher complexity of need while next week Towergate will unveil details of its financial choice platform offering a retail strategy for clients with a lower complexity of need through a white- label partnership with Cofunds, thereby creating a dual-platform strategy.
IFDL shares the same technology as Ascentric’s platform and will be rolled out by the end of the year as part of Towergate’s new private cli- ent toolkit.
Speaking at a press briefing last week, Towergate Financial business development director Dan Saulter said the multiple tax wrappers and whole of market aspect of IFDL’s technology were two of its reasons for choosing the platform.
Saulter said: “This will enable us to be more innovative in the market as we roll out new ideas. It is Towergate branded which is key for us in building our brand.”
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