View more on these topics

Bankhall in Microsoft deal to develop wrap

IFA support services provider Bankhall is developing the first stage of a wrap product using policy aggregation software from IT giant Microsoft.

Bankhall says it intends to work in partnership with Microsoft to design a platform which will allow its advisers to view aggregated client policy information on one page.

It plans to use Microsoft&#39s Biztalk 2004, a data integration hub which will be integrated into Bankhall&#39s existing IT offering IFA Engine by technology company Solid Soft.

Microsoft already dominates the provision of back-office and processing systems for banks and investment groups and says it intends to make a push into software provision for IFAs.

Bankhall IT director Nigel Hopwood says: “We believe that offering aggregation tools will allow advisers to sell more products. We see this as step one towards a wrap proposition, with the focus on life and pensions initially, then moving on to investments.”

Microsoft director of UK financial services Bill Voysey says: “Microsoft is trying to construct its involvement in financial services from teller to trader. Working with providers and IFAs is something we are increasingly interested in.

“We are very hopeful that the project with Bankhall will create a benchmark around integration and performance and are interested in seeing what Bankhall and Skandia can achieve with it.”

Recommended

Nationwide shaves fixed rates and tracker loans

Nationwide Building Society has made slight reductions in the rates on its fixed-rate and tracker mortgages. Its two-year fixed rate goes down from 4.81 per cent to 4.79 per cent while the three-year fix rate is cut from 5.11 per cent to 5.09 per cent from 5.11 per cent and the five-year fix from 5.31 […]

Alexander Hall founder starts loan firm

No-fee mortgage broker Alexander Hall founder Simon Nimmo is setting up new high-net-worth mortgage brokerage Charles Cameron. Nimmo has seven brokers on board already and is looking for around 20 by the end of the year for the firm, which is set to launch in April. He says he wants Charles Cameron to remain small […]

Digest

Garden sheds are making a comeback. An insider tells the Diary that sheds could be the new loft conversions for the up and coming. Even Syndaxi Financial Planning director Robert Reid operates his business from a garden shed, apparently. A common or garden shed could also be former Tory leader Iain Duncan Smith&#39s road back […]

Confident IFAs plan to add RIs

IFAs are confident about the future for their businesses but are yet to embrace fees wholeheartedly, according to new research from financial services forum PIMS. The survey shows that 92 per cent of IFAs expect to grow their businesses in the next two years and 72 per cent expect the number of RIs in their […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment