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Infocomp wraps up deal

Wrap software provider Infocomp is in talks with a number of life and pension providers, fund management firms and bancassurers as it looks to deliver its proposition to the market.

Chief executive Rob DeDominicis says after two years work the Australian firm’s platform has been fully adapted for the UK market and it is close to announcing its first white-label deal with a big provider that does not have a wrap presence.

DeDominicis says it is in discussions with a range of other providers looking at the firm’s wrap technology and sees the potential for national IFAs and networks to buy the software to strengthen their position in the market.

He says the costs to providers of the Composer platform software will be a fraction of the figures currently being talked about for wrap projects involving the likes of Standard Life and Norwich Union.

He anticipates it will take around six months to implement the wrap which he says has the ability to aggregate multiple tax wrappers and collective investments and offers a clear and transparent charging structure adapted to the provider’s needs.

The company has received FSA authorisation to act as a business processing outsourcer and believes that A-Day and the introduction of Sipp regulation next year will be the catalysts behind wrap taking off.

The firm was formed in 1988 and its Australian clients include JP Morgan, Macquarie Bank, Credit Suisse Asset Management and Merrill Lynch.

DeDominicis says: “After two years hard work and preparation, we are ready to go in the UK market and are close to our first deal. Our systems can deliver something that has long been missing- superior functionality with a much lower price tag and fast delivery to market of new product developments.”


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