The platform will power both the group’s direct investment brokerage and advisory services.
The firm is using the platform to launch the Chartwell Sipp in June. The product will have no initial or ongoing charge and will permit access to a significant number of funds, UK stocks and shares and a variety of deposit accounts.
Director Rob Hudson says: “Our choice of platform is fundamental to our plans moving forward. Given that we will be significantly expanding our range of services across direct and advisory, our platform requirements have proven highly challenging to most existing providers.
“As this is such a significant single outsource of administration, custody, deal execution and product/pricing options we have had to be careful to partner with a provider that can help us deliver on all fronts. Ascentric’s core capability meets this challenge.”
The selection of Ascentric sees Chartwell enter the wrap platform market for the first time. The firm expects to migrate most of its clients over to platform within 3-5 years.