Technology

Tilney Bestinvest Rolls Out Wealth Technology Platform

Amisha Mehta Deputy Editor 31 October 2016

Tilney Bestinvest Rolls Out Wealth Technology Platform

The London-based firm said the technology will allow it to move its investment managers and financial planners to one operating platform.

Tilney Bestinvest has implemented IRESS’s integrated private wealth management technology.

The platform seeks to support Tilney’s needs across financial planning, portfolio management, trading and market data, multi-channel client engagement and reporting. It also incorporates integration to multiple third-party platforms and executing custodians.

Towry, the UK wealth manager acquired earlier this year by Tilney Bestinvest, is also a client of IRESS, an Australia-based fintech firm. The combined Tilney and Towry business has over 300 financial planners and investment managers, operating across a network of more than 30 UK offices.

A number of disconnected manual processes, which Tilney Bestinvest inherited through acquisitions, have been unified and automated, which will both improve efficiency and enhance the services it provides to clients, IRESS said in a statement.

“The new solution and operating model will enable Tilney Bestinvest to realise its ambitious business strategy, by moving its investment managers and financial planners to one operating platform, standardising processes, removing manual workarounds, improving its cost-to-income ratio and creating a seamless, engaging client experience,” said IRESS's group executive, strategy, Simon New.

Tilney Bestinvest’s chief executive, Peter Hall, added: “The solution delivered by IRESS unifies and streamlines processes across the organisation as well as meeting our client and compliance needs.”

Tilney Bestinvest looks after more than £20 billion ($24 billion) in assets for private clients, charities and financial advisors.

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