Technology
Ascentric Pilots DIY Platform For Investors

The London-headquartered tech firm Ascentric is piloting a white label execution-only platform allowing consumers to manage their own investments online.
The Investor Direct offering gives investors the ability to purchase ISAs, SIPPs and GIAs cheaply in addition to providing advisors with a non-advice business that can help advisors maintain existing relationships with clients.
Ascentric told WealthBriefing that as fee rates have been pushed up following the implementation of the Retail Distribution Review, more advisors are looking for new ways to service lower-end clients without losing the relationship.
As such, the new service is aimed at lower value clients who may not be willing to pay a fee for advice, but still want to remain with the advisor firm in case they need advice later on. Therefore providing firms with the opportunity to keep clients who might be tempted to “do it yourself” now that advisor fees have risen. The platform could also attract new clients, potentially creating a pipeline of clients who may need financial advice in the future.
The offering will be available through advisors’ websites and will give customers access to a wide range of investments within the product wrappers including OEICs, Unit Trusts, Investment Trusts, Equities and ETFs, the firm said.
Ascentric also noted that the terms of Investor Direct clarify to customers that the offering is a non-advice service.
In related news, the platform recently hit record new business levels of £813 million in the first half of 2013, when the financial powerhouse Royal London Group reported its interim results, including those of subsidiary Ascentric, in August.