Technology

Aegon: Robo-advice will not reach scale in five years

Aegon does not believe there will be a scale robo-advice player in the UK market in the next five years. Speaking today at the Money Marketing Interactive conference in London, Aegon chief distribution and marketing officer Mark Till says robo-advice will come into the market to help streamline advisers’ back offices but will not replace the […]

ABI announces interim pensions dashboard project

Interim project is hoped to stop any delays stemming from snap general election The Association of British Insurers is spearheading an interim project on the development of a pensions dashboard to prevent delays owing to the general election. The project to develop a prototype pensions dashboard system closed in May. The Government has paused its […]

Ian McKenna: How will platforms deal with the pension dashboard?

The platform community is fast realising the introduction of pension dashboards by 2019 will have a significant effect on them, both in terms of the services they provide and what they can charge for it. When considering these issues, it is essential to recognise a number of points. First, pension dashboards are only accelerating changes […]

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FCA signs co-operation deal with Hong Kong regulator

Fintech agreement latest deal to foster collaboration with foreign regulators The Financial Conduct Authority has entered into a co-operation agreement with the Securities and Futures Commission in Hong Kong to “foster collaboration in support of financial technology innovation”. Under the agreement, the FCA and SFC will co-operate on information sharing and referrals of innovative firms seeking […]

Stacked up: Are technology providers up to the replatforming workload?

Fears grow over whether just four technology providers can handle the huge replatforming challenge Platform technology providers are attempting to alleviate concerns that too few players in the market are taking on too much work. Last week Old Mutual Wealth announced the cancellation of its replatforming contract with IFDS to switch to rival provider FNZ. A […]

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RBS cuts back-office jobs in offshore move

Bank will create additional technology roles in India RBS will cut 92 roles from its back office and create 38 new roles in India; a move that has been criticised by union Unite. Overall, 180 permanent jobs are at risk but it is expected 88 people will be able to reapply for roles within the business so […]

New robo-advice service fails personalisation test, advisers say

LV= and Wealth Wizards combination can help cut adviser “grunt work” but concerns remain over personalisation An automated advice service has been criticised for a lack of personalisation in its reports as advisers are being encouraged to be open to the efficiencies such technology could bring to their businesses. Robo-adviser Wealth Wizards launched its “robo-paraplanner” […]

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Robo-adviser claims full retirement advice delivered in under two hours

Robo-adviser will produce an automated advice report in under a minute Robo-adviser Wealth Wizards has launched a tool that it claims will give full retirement advice in under two hours. The white-labelled robo-paraplanner tool, which has been piloted by LV=, will provide an automated advice report in under a minute. The fact-find is undertaken either […]

Under the bonnet of fund research agencies: The Adviser Centre

The Adviser Centre may soon benefit from the scale that comes with acquisition We conclude our series looking under the bonnet of fund research agencies with an examination of The Adviser Centre. Like other agencies, The Adviser Centre was launched shortly after the RDR came into force to provide investment research and consultancy to advisers. […]

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Old Mutual cancels replatforming contract with IFDS

OMW says new agreement with FNZ “considerably de-risks” its replatforming programme Old Mutual Wealth has terminated its contract with IFDS for its replatforming project and is now partnering with FNZ instead. In a statement, OMW says the move “considerably de-risks” its platform transformation programme. At the end of April, the replatforming project had cost OMW […]