This publication brings news of product developments in the global wealth management industry.

London-based Third Financial Software has officially launched its next-generation platform service, Tercero Platform, offered by its new subsidiary, Third Platform Services.  

The service is available in two forms: “FULL” and “FLEX”. Details of the new offering were explained to an audience last night in central London.

“FULL” comprises a whole-of-market outsourced solution for wealth managers that uses Third Financial’s front-to-back software product, Tercero. This option provides administration, dealing, settlement and custody services as well as access to all the existing features of the hosted Tercero software.

“FLEX” allows customers to choose elements of the full service to create a bespoke solution. For example, a customer could outsource custody and settlement, while retaining control of dealing, Third Financial explained in a statement.

Tercero Platform offers access to the full capabilities including multi-currency investment management tools alongside straight-through-dealing, settlement and custody. It also supports links with clients’ preferred wrap providers for self invested personal pensions and offshore bonds, while providing proprietary tax wrapper services for structures such as individual savings accounts.

“I know from experience there is a gap for a fully integrated solution, driven by market practitioners who actually understand the wealth management sector first hand. Scale, efficiency and value are what we are eager to deliver,” Matt Aylward, chief executive of Tercero Platform Services, said.