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Foster Denovo to launch investment platform

National advice firm Foster Denovo is in the early stages of building a platform for its in-house advisers, Money Marketing has learned.

The platform is currently in the pilot stage and will provide access to Foster Denovo’s portfolio range.

The firm already has an internal investment management company, Sequel Investments, with a platform adding a second element of vertical integration.

Other national advice firms such as Succession have also opted to white-label existing technology to launch in-house platforms for their advisers in recent years.

It is unclear whether Foster Denovo will be building brand-new technology or using a bespoke version of a solution already on the market.

A spokeswoman says: “The platform will offer our advisers and clients cutting-edge functionality, service capability and disruptive pricing.”

The firm says it will not yet provide further details on the capability of the platform or on the timeline of its development.

Money Marketing understands that client access to see the range of their investments and their performance will be an important piece of functionality for the platform.

Foster Denovo is also still building adviser numbers after unveiling a new acquisition strategy last April.

The firm suffered a 15 per cent adviser exodus in 12 months in 2014 and 2015.

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Comments

There is one comment at the moment, we would love to hear your opinion too.

  1. Building from scratch is difficult and the capital required huge especially if taking on CASS responsibilities. Most seem to have safeguarding permissions then effectively white label an existing platform but it is very difficult, if not impossible to extract at a later date.

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