The move forms part of Towergate’s dual platform strategy, which already sees Ascentric power its wealth platform.
The platform, which is scheduled to be rolled-out by the end of 2009, has been specifically designed as a core platform solution for Towergate’s retail clients. It will sit alongside the firm’s wealth platform for mid to high net worth clients.
Towergate Financial chief executive Ian Darby says: “Our Choice platform forms a key part of our private client toolkit which will we believe will be the best of breed in the market. These are exciting times for Towergate Financial where we are building a business which boasts innovative investment solutions combined with recruiting the very best talent.”
Last month Moneymarekting.co.uk revealed that Ascentric and Cofunds are to white-label platforms for Towergate Financial as part of a dual platform strategy catering for different elements of its client base.