Schroders Personal Wealth (SPW) has said it is launching a new platform to bring the control and oversight of client money and investments in-house.
Subject to approval from the Financial Conduct Authority, the move will result in SPW becoming a regulated platform operator and custodian, which means it will be responsible for safeguarding and holding client accounts.
The platform, launched in partnership with SEI and Benchmark, will allow SPW to offer integrated advice and services to its customers.
SPW said that the platform, which goes live this summer, will give the firm greater flexibility over the products and services it offers.
In addition to the new platform, SPW will also be launching an app for clients in the second quarter of this year which will allow them to view their investments on a mobile device.
“Improving client experience was central to our decision making and we have listened to feedback from our clients and incorporated these insights whilst developing our new platform alongside our partners,” said Graham Bastin, chief technology officer at Schroders Personal Wealth. “Going forward, clients will only hear from one brand, instead of three, and will have an enhanced experience through better integrated technology.”
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