Brewin Dolphin is set to appoint True Potential to provide back-office software for its financial planning arm and adopt technology programme Figaro as its front-office investment management engine.
Money Marketing understands Brewin Dolphin Financial Planning, which has about 40 advisers, is due to finalise the arrangements in the next week.
True Potential provides back-office software and white-label platform functionality for Positive Solutions advisers.
Figaro is the investment management software product provided by IT solutions firm JHC. Through Figaro, JHC currently has about £20bn of assets under management.
A Brewin Dolphin spokeswoman says: “We can confirm that we are working with True Potential and Figaro to enhance our offerings to our clients. More details will be announced shortly.”
True Potential and JHC declined to comment.
Money Marketing also understands Brewin is lowering the cost of its model portfolios, from 0.5 to 0.3 per cent.
The portfolios are currently available on Novia’s platform but it is understood they will launch on Axa Elevate and Nucleus on July 1.
The Brewin spokeswoman says: “The fee for our managed funds service is under review as part of our strategic review and our intentions to remain competitive. At present, our managed funds service only runs on the Novia platform, though we are in discussion with others.”
Cube Financial Planning co-founder Mike Godfrey says: “On the face of it, the price reduction makes Brewin’s offering pretty competitive.”