John Scott & Partners signs for 1st's Adviser Office technology
BPO Business Intelligence
1st and The Exchange, today announced that John Scott & Partners (JS&P)
has selected its integrated, straight-through-processing (STP)
technology proposition to support its new wealth management group,
created following JS&P's recent acquisition of Towry Law.
Implementing 1st's Adviser Office technology supported by 1st's
consultancy services, the JS&P solution provides a unique
straight-through process to cater for the adoption and management of
the full wealth management needs of clients. JS&P and Towry Law
together have over 200 qualified advisers and this newly formed group
is one of the largest independent businesses in the industry with an
annual revenue in excess of £50m.
David Child, managing director of Vertex Life, Pensions & Distribution
and The Exchange, comments: "We are delighted to conclude this major
contract for a complete STP solution with one of the UK's leading
wealth management companies. The benefits of using Adviser Office,
seamlessly integrated with Exweb for protection business and Pulse for
investment management, will give JS&P/Towry Law a tremendous
competitive advantage - eradicating many of the usual problems advisers
face with ad-hoc technology solutions."
Andrew Fisher, chief executive, JS&P, comments: "The combined strengths
of Towry Law and JS&P makes us a powerful force in the professional
adviser marketplace as we continue to focus on building long-term
client relationships through the provision of the highest quality
advice. As long-standing users of 1st prior to the acquisition, we were
already impressed with the commitment and service which we had received
and now with the powerful additional functionality delivered by The
Exchange, the complete STP solution will give our wealth advisers a
simple but effective business tool."
Rory Curran, executive chairman, 1st, continues: "We have worked with
JS&P previously, with many of their users already very familiar with
Adviser Office. We were extremely pleased to be selected to provide the
technology for the combined businesses of JS&P and Towry Law and they
will both now enjoy the advantages of a complete end to end solution
tailored to fully support their unique proposition".
Source: www.finextra.com 01/12/2006