Intrinsic Financial Services has named its adviser platform Consolidate and set a January launch date.
The wrap is currently being piloted and is on track to be rolled out on a phased basis to Intrinsic members from the beginning of next year.
The network announced in June that it had chosen Investment Funds Direct Limited, the provider behind Ascentric, to power its own platform.
The platform will see Intrinsic using open architecture technology for the first time.
Sesame Bankhall Group is also planning to develop a platform to be unveiled later this year. Chief operating officer Stephen Young will head a new unit to deliver the platform, with Intrinsic founding director George Higginson taking over the chief operating officer role at Sesame Bankhall early next year.
Threesixty commercial director Phil Young says: “Where companies are saying they are developing their own platform, it may be good for advisers to dig a little deeper to see if it is simply a respray of a platform they are already using.
“I do not think it is necessarily a bad thing for companies to white-label, but I think we will hear a lot more about companies developing their ‘own’ platform.”