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Capita fills service gap with Webline takeover

Outsourcing giant Capita has bought adviser portal Webline and expects to launch a complete straight-through processing service for IFAs by the middle of the year.

The move, revealed by Money Marketing in December, comes quickly after Cap- ita’s acquisition of back-office software provider Quay in November and a 300m deal to act as an outsourcing partner to Zurich.

Capita managing director Steve Parkinson says the deal fills the remaining service holes in the company’s proposition which includes Sipp, unit trust, Oeic and investment trust administration, life and pension outsourcing and administration as well offshore bond capabilities.

Parkinson says the adviser service, which has not yet been named, will be marketed at big firms and networks, with discussions already under- way with several firms, including Thinc Destini.

Capita will also be looking to broker further provider outsourcing deals and Parkinson has not ruled out further acquisitions. He also says that Quay and Webline will con- tinue to service existing users.

Financial Technology Research Centre director Ian McKenna says: “This gives the providers what they wanted, with two portals now owned by large firms with financial clout. It makes for healthy competition and I expect more acquisitions this year.”

Parkinson says: “This is about pulling together all the financial services projects that we have been working on to provide a complete service for advisers straight to their desk-top. No one is currently doing this in the market although it may provoke competitors into upping their game.”


Brener joins Abbey as compliance director

Former PIA regulator Alan Brener has joined Abbey as its new compliance director. Brener, who moved to Abbey last week from Royal Bank of Scotland, came in for criticism from the FSA’s appeals tribunal for the quality of his evidence during its review of the handling of Legal & General’s endowment misselling case last year. […]

Law Commission looks at life law

The Law Commission is calling for a review of insurance contract law, specifically on life insurance issues around non-disclosure and civil partnership laws.

Action plan for FSA

Regulator must play a greater role if it is to reduce the scope for misselling

The need for speed

Last year saw tremendous change in the FS market, with depolarisation leading to significant growth in the HNW/wealth sector and increasing penetration into the market of some of the wrap providers. IFAs have been looking very closely at their range of services and how they interact with their clients, often having to re-invent themselves, not […]

The fifteen-year itch

By Neil Jones Technical support manager with Canada Life’s ican Technical Services Team. Canada Life offers a range of wealth management solutions, including retirement income planning, estate planning and investment solutions from a choice of jurisdictions, including the UK, Isle of Man and Republic of Ireland. The treatment of non-UK domiciles that are resident in […]


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