View more on these topics

Portavista platform to boost commission

Capita Enabler has launched its platform proposition, with Bankhall the first firm to white-label the offering.

Chief executive Peter Mann said advisers using the platform, called Portavista, could increase their average commission by 0.4 per cent.

Bankhall unveiled the platform at its annual conference in Cannes last week.

Mann said Bankhall will offset an additional amount of commission against fees, which will reduce the amount that advisers pay for services.

Clients will pay 5 per cent initial and a 1.75 per cent annual management fee based on assets held on the platform.

Mann insisted that the platform is not a wrap. It will be linked to fund supermarket Fundsdirect, with access to 1,200 funds from 56 fund groups. A Sipp and personal pension will be provided by Aegon Scottish Equitable.

A discretionary fund management offering is also available. This is set to be provided by Goldman Sachs but neither Bankhall nor Capita would confirm this.

Mann said advisers can use the platform to switch their businesses from a commission-based model to a model reliant on recurring income streams.

It will initially be available to advisers using Quay and Bankhall Online back-office systems, with other software providers expected to be signed up shortly.

Mann said: “We chose the name Portavista because it aligns with our view that the platform will be a gateway for financial visionaries. We have between £8bn-£10bn held on our advisers’ four most popular platforms. We do not exp-ect those with thousands of pounds on a platform already to move it across. Our focus is on new business coming in.”

Sunday Group managing director Dermod Atkinson says: “The commission mentioned does sound competitively priced. If we find out they will link into other back-office systems – we use Intelliflo – it certainly sounds interesting.”

Recommended

Rock deal should have been secret

I suspect that your columns will be full of comments arguing about how the crisis at Northern Rock should have been handled. I cannot help wondering if the entire matter could have been dealt with far more satisfactorily by the trio in question – the Bank of England, the FSA and HM Government? In a […]

DB Mortgages product changes mean it will not honour previously accepted DIPs

DB Mortgages has introduced a higher credit score pass threshold for all new business as well as capping maximum sub-prime loan to values at 75 per cent.The changes mean that there is a high chance many applications will not pass the new strict credit scoring system that DB Mortgages has put in place.The changes to […]

What is in a name

It seemed fitting that in a week when Money Marketing hosted a roundtable on boutiques another one announces its intention to come to market and challenge some of the big houses for its market share.

Axa confirms 2008 platform launch

Insurance giant Axa broke radio silence today to confirm that it is launching a wrap platform in the early part of the first quarter of 2008.

Is this the endgame for the current mergers & acquisitions boom?

Last year, worldwide mergers and acquisitions (M&A) rose to an unprecedented $4.7tn, according to Thomson Reuters, a 41 per cent increase over 2014. Anthony Forcione, senior equity analyst at Loomis Sayles, an affiliate of Natixis Global Asset Management, looks at what’s been driving this particular wave of mergers. Click here to view full article: Loomis-Sayles

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment