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Pershing to launch electronic re-reg service

Pershing is to offer electronic re-registration services for its UK clients as part of the wider industry shift to move clients’ assets between platforms more efficiently.

The system has been tested with technology firm Altus and internally at Pershing’s parent company BNY Mellon. Pershing estimates it will begin a phased rollout of the service around November. 

Pershing operations director Chris Hornsby says: “The system will offer clients the benefit of avoiding the historic paper trail involving registrars, transfer agents and fund managers, replacing it with a fully automated, electronic solution that significantly speeds up the transfer processes.”

Pershing clients including Raymond James and Seven Investment Management have already signalled their interest in the service.

Yesterday the FCA warned the industry could face prescriptive legislation around re-reg if it failed to improve on slow re-reg times.



FCA crime head: Time for industry to ‘walk the walk’

The financial services industry must “walk the walk as well as talk the talk” in order to regain trust from consumers, according to the FCA.  Speaking at a National Economic Research Associates enforcement seminar last night, FCA director of enforcement and financial crime Tracey McDermott said those working within financial services are not predisposed to […]


Labour reshuffle sees new Shadow Work and Pensions Secretary

Labour leader Ed Miliband has promoted Treasury chief secretary Rachel Reeves to Shadow Work and Pensions Secretary replacing Liam Byrne in a ministerial reshuffle today. Miliband’s changes come on the same day as the Government’s reshuffle and will see Reeves lead Labour’s response to the Pensions Bill as she shadows Iain Duncan Smith. Byrne, who has been […]


How Aim stocks can relieve the pain of IHT

The recent rule change that allows Alternative Investment Market shares to be held in an Isa has provided a timely reminder of the tax advantages offered by these investments. Whether held inside or outside an Isa, shares in Aim-listed companies provide advisers with a lot of scope for estate planning. Business relief, previously known as […]

Coleman-Peter-Positive Solutions-2013

PosSol ditches True Potential in Avelo tech deal

Intrinsic is to move all Positive Solutions partners away from True Potential adviser software onto the Avelo adviser front, middle and back office technology. In June, Money Marketing revealed Intrinsic was to buy PosSol and that the technology deal with True Potential was under review. All Intrinsic advisers currently use Avelo. A communication sent by […]

The Investment Clock: Keep calm and Macron!

Trevor Greetham, Head of Multi Asset In a marked contrast to the surge in risk sentiment that followed President Trump’s election in November, markets greeted Emmanuel Macron’s victory in the French presidential election with satisfaction and relief, rather than euphoria. After rallying strongly on opinion polls that accurately predicted the outcome, the euro held onto […]


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