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Ascentric teams up with 1st Software founder

Wrap platform Ascentric has teamed up with former managing director and joint founder of 1st Software Mik Cons, to provide an independent business process review to IFA firms.

Through his Silent Partner consultancy practice, Cons will spend a day with Ascentric clients and prospects to undertake a technology and process review.

Ascentric says the review will aim to get a clear understanding of the day to day processes that underpin an adviser business and to explore how those firms can achieve efficiencies by aligning wrap and back office technologies.

Sales director Richard Goodall says: “Our aim is to work closely with our advisers to really understand the challenges facing them in their business and to explore how technology can help them spend more time with their clients and maintain a profitable business model.

“Through his experience with 1st Software, Mik has extensive knowledge of the IFA market and the positive impact technology can have on adviser firms. He is a highly skilled and experienced individual who will provide real insight and clarity of thinking.”

Cons adds: “I really believe the time is right for adviser firms to look at their business processes and embrace technology such as wrap to help deliver great client service whilst reducing their overall administration costs.

“The impending changes set out in the FSA’s retail distribution implementation programme mean firms need to plan well for the months ahead and getting the right technology and partners in place will be critical to future success.”


15% Of prime loans in negative equity

Fifteen per cent of prime UK mortgages by value are in negative equity, according to Fitch Ratings. It expects this figure to increase to 34 per cent of all prime mortgages if house prices fall in line with its expectations of a 30 per cent decline peak to trough.

Mortgage lending stabilising

Gross mortgage lending was down by 2 per cent in May at £10.3bn from the previous month and by 58 per cent year on year, according to Council of Mortgage Lenders’ figures.


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