Focus Solutions Group, which supplies multi-channel distribution software to financial services firms such as wealth managers, has extended its contract with Bank of Ireland.

The contract is to operate the firm’s “focus:360°” wealth management product. The contract extension is worth around £300,000 (about $475,000) in licence fees over a five-year term in addition to the current contract revenue, plus an additional £375,000 in professional services. The group anticipates this to be the first phase of a larger project which will run over the next year.

Under the terms of the contract, Bank of Ireland Life will be extending its focus:360° platform to support its mass market channel of around 130 advisors in addition to the newly-created mass affluent advisor channel that went live last year. Both channels will be supported from focus:360°’s single platform.

Focus Solutions’ clients include firms such as St James’s Place and HSBC.