Friends launches corporate investment platform
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Friends Provident has launched its new corporate investment platform aimed at employee benefit consultants and trustees in the unbundled pensions market.
Money Marketing revealed in May last year that the firm was looking to develop a corporate platform. Friends Provident signed a contract with FNZ to power the proposition in August.
The firm says employee benefit consultants and corporate IFAs will be able to use the new platform to help trustees optimise their investment strategy.
It says the new service will allow trustees to adopt a wider range of funds and adjust their strategies more rapidly, using tools such as bespoke blended funds and automated rebalancing.
According to Friends Provident, trustees and administrators will also benefit from reduced costs and improved control and efficiency.
Head of corporate pensions sales Russell Welsh says: “We believe our corporate investment platform sets a new benchmark for investment management because of its speed and efficiency.
“This is a key strategic development for Friends Provident and significantly broadens the range of services that we are able to offer. Our long association and collaboration with FNZ shows Friends commitment to developing new solutions through innovation and technology.
“We think our next generation of solutions will open up new choices for employers who want to provide employee benefits. These will provide a truly exciting opportunity for employers to start thinking differently about how they offer benefits to their employees.”
FNZ chief executive Adrian Durham says: “We are delighted with the launch of the Friends Provident corporate investment platform.
“This new platform, powered by true straight through processing, represents a significant milestone in the ’next generation solutions’ programme which we believe will transform the corporate savings market.”
Friends Provident says the platform will undertake the majority of buy and sell transactions on the same day and new funds can be added within five days.
It says the wrap offers a wide range of auto-rebalancing options which include the ability to incorporate cash inflows and outflows and provides instant access to ’touch button’ management information which includes past valuations and straight through processing.
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Readers' comments (2)
Incompetent Regulators Awards Team | 31 Mar 2010 3:32 pm
Over 30 years ago this company was one of the best. Now it's one of the worst. They have proved to be too weak and conciliatory with the regulator and have made very bad investment decisions in their With Profits funds. They will never get my clients money ever again!!!!!!
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Anonymous | 16 Aug 2010 11:37 am
I suppose there will happy customers and customers who have had bad experiences, from reading this article its corporate banking arm does sound promising and will give benefit to financial affairs.
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