Novia and AJ Bell have both rejected requests from Intelliflo to pay a percentage of client assets per year rather than an upfront fee to integrate client data, Money Marketing understands.
In August, Novia was the 27th platform to integrate Intelliflo software while AJ Bell is yet to integrate.
Skandia, Fidelity FundsNetwork, Cofunds and Transact use Intelliflo software.
Finance and Technology Research Centre director Ian McKenna says: “I can understand platforms’ reluctance to give a percentage for what is essentially an admin service. Giving software firms basis points would only end up in the customer paying more.”
An Intelliflo spokeswoman says: “This type of information is commercially sensitive and is not something we would ever comment on.”
Novia and AJ Bell declined to comment.
Intelliflo said this week it will spend £10m on boosting its adviser offering and announced enhanced integration with Standard Life wrap. Standard currently integrates Intelliflo’s contract enquiry service while the new deal will enable users to automatically value Standard wrap accounts.