Prudential is in discussions with technology and administration providers about renting a third-party wrap.
The firm says it does not want to invest in building its own wrap but hopes to come to the market next year.
It does not believe it has missed the boat on wrap, saying delaying a launch has enabled it to learn from the mistakes of rivals.
Pru says it considered buying or building its own platform but concluded that renting an existing wrap was the most cost-effective route.
It will then focus on adapting the front end to meet the requirements of its IFA users.
Spokesman Darragh Leeson says: “It is a long way from being too late to enter this market. Our aim is to launch a wrap at some stage in 2008 but cannot give further details.”
Wealthtime chief executive Jan Regnart says: “I can see why they would want an off the shelf package to get to market sooner but this still needs all pulling together, if they rent from various organisations. It also means they will have to work through a third party in terms of changing or developing, which gives less control and can be slower to adapt.”