GBST signs platform technology deal with Fidelity

Fidelity Worldwide Investment has signed a deal with platform technology provider GBST to provide administration and registration services.

Last week, an announcement on the Australian Stock Exchange confirmed GBST would provide its platform technology to Fidelity.

The announcement says: “GBST confirms it has signed a long-term contract with Fidelity Worldwide Investment for the delivery of its flagship GBST Composer administration and registry solution to the Fidelity business within the UK.”

GBST Wealth Management chief executive Rob DeDominicis says: “GBST is enjoying strong momentum at the present time. This new appointment by Fidelity Worldwide Investment shows we are set to continue that momentum.”

GBST provides underlying technology for the Novia, AJ Bell and Aegon Retirement Choices platforms.

Investment Quorum chief executive Lee Robertson says: “Most firms are looking at outsourcing parts of technology to strengthen their proposition and it is a trend that is set to continue.”