View more on these topics

Bankhall builds technology platform to pass the portals

IFA support services provider Bankhall is working with parent group Skandia to design a multi-provider technology platform after depolarisation.

Bankhall is thought to be in negotiations with a number of providers to sign up to its platform ahead of its launch but will not disclose who these are yet.

Its plans are to develop an offering allowing its advisers to do everything online from one central hub accessing quotes, applications, underwriting and commission all through one platform that will sit within IFA Engine.

It would be available to all members whether they multi-tie or not and will allow them to bypass portals, accessing all the services that the portals supply through Bankhall&#39s own system.

Bankhall Investments director Jamie Farquhar says: “There will be a platform element within our multi-tie proposition but this will be open architecture as well and will not drive a prescriptive selection.”

Financial Technology Research Centre director Ian McKenna says: “Such an approach would be a natural evolution and a positive move for the marketplace with the only caveat that one would hope to see other platforms of this type established. There is room in the market for more than one.”

Third-party consultancy adnitor managing consultant Holly McKay says: “The player who attempts to do it all runs the risk of shooting themselves in the foot and sacrificing their core value proposition. It is not a foregone conclusion that the networks will be successful wrap providers.”

Recommended

New chief executive for the Financial Services Skills Council

The Financial Services Skills Council has appointed Teresa Sayers as its new chief executive. Sayers has been working as managing director for the FSSC since 2003 and was instrumental in the council being awarded its license from the government. The FSSC is now licensed to work in partnership with employers and trade unions to provide […]

Savills claims UK&#39s biggest mortgage at £15.2m

A £15.2m mortgage secured by Savills Private Finance is believed to be the biggest homeloan arranged in Britain. The businessman who took out the mortgage will have to pay £69,667 interest each month. However, repayments would rise to £82,000 if interest rates went up by 1 per cent by the end of the year, as […]

Chancellor&#39s scheme will not impress SMEs- Lib Dems

Liberal Democrat small business spokesman Brian Cotter has hit out at Chancellor Gordon Brown&#39s latest scheme to encourage SMEs to access finance through a new US-style funding programme. Cotter says this scheme will not mask the problems faced by small businesses being &#39strangled&#39 by Labour red tape and changes to the tax system.

Liontrust may close funds to new money

Liontrust is set to slam the door on new investment into its existing funds after admitting that rocketing inflows could seriously impede their performance within a matter of months. Chairman Ellen Winser told shareholders last week that the fast-rising boutique&#39s four investment processes can cope with £6bn before the chances of further outperformance are dramatically […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment