Wealth manager Foster Denovo has extended its partnership with Third Financial, part of the Nucleus group, signing a deal for a bespoke Adviser-as-a-Platform (AaaP) solution. AaaP is when the proposition to clients, along with parts of the service provided by the platform, are branded and controlled by the advisory firm. The model reportedly enables companies to take control of the products being offered, customer experience as well as “more of the value chain.”
Third Financial and Foster Denovo have worked on the customised platform transformation project which is “designed to meet the needs of advisers and their teams, enabling them to service clients effectively.”
The investment platform also features “a two-way integration with the back-office system.”
The client experience will be enhanced via the launch of a Clearview-branded mobile app, giving clients at the UK-wide financial advisory group an more intuitive “way of engaging with their investments.”
The firms have a history of working together, “with £1 billion+ of client assets already administered on the platform, powered by Third Financial’s Tercero software.”
Foster Denovo Chief Operating Officer Helen Lovett said that like many in our sector, they had evolved their services across “a number of different retail investment platforms.”
Lovett added that they strive to create a “unified experience for clients which is why they took the decision to develop our own platform.”
They also noted that partnering with Third Financial “to deliver this is a big step forward.”
They’ve become a long-term partner, “providing the support we need to deliver a service to clients and to continue to drive forward their growth strategy.”
Chris Williams, MD, Third Financial at Nucleus, stated that it is a reflection of the depth of their “relationship that Foster Denovo has extended their partnership with them.”
Williams also noted that their new investment platform, powered by Third Financial, is “a customised solution built on our market leading technology which will enable them to offer a branded and tailored service to their clients.”
They also stated that the scale and expertise they “have within the group will support Helen and her team as they continue to integrate their acquisitions and help drive their growth.”
They power some of the industry’s consolidators “such as Titan, Verso and Radiant, plus 60 investment managers.”
Their combination of technology, “personalised service and financial strength is setting them apart in the market.”
Nucleus acquired Third Financial this past year.
The group provides a range of products, services and software options “that enable advisory firms and consolidators, investment managers and institutions, to take greater control of their platform propositions.”