Alliance Trust Savings has completed an upgrade of its advised platform meaning new adviser business will be powered by GBST.
The move to the tech firm’s Composer platform is being managed in phases, with existing advised clients yet to be migrated from the old propriety system.
As a result advisers will be able to access model porfolios for the first time.
Five discretionary fund managers are available initially – 7IM, Morningstar, PortfolioMetrix, Tatton and Vestra Wealth – with more to be added in the coming months.
The advised platform launched three years ago and has around £2bn of assets under administration. In all the firm has £11.5bn of assets, the bulk of which are on the direct platform. Likewise, the firm plans to move the direct platform to Composer.
Alliance Trust Savings operates a flat fee pricing structure.
Chief executive Patrick Mill says: “Feedback from our customers and intermediaries told us that while our product range and pricing structure is really attractive, the functionality on the platform needed to evolve to better support their needs.
“The transfer of new adviser business to the Composer technology has enabled us to launch model portfolio capability and the ability to work with DFMs.
“With the replatforming work largely completed, we are now seeing huge interest in our platform from intermediaries who appreciate the significant value our flat fees offer their clients, without the need to compromise on functionality.”
Platforum senior researcher Miranda Seath says: “Alliance Trust Savings’ flat fee structure resonates with advisers. In Platforum’s recent adviser survey, users scored it 4.58 out of a maximum 5 for ‘value for fees charged’ – making it the highest rated platform.
“But attractive pricing in isolation can only go so far. Alliance Trust Savings’ investment in its technology is key to retaining assets. In the longer term, service and usability will influence advisers’ decisions to stick or shift.”