Technology
Digital Digest: The Latest Tech News – SS&C Powers Wesleyan’s Digital-First Wealth Platform
The latest technology news in the wealth management sector from around the world.
Wesleyan Assurance Society, a UK financial services mutual, has partnered with SS&C Technologies to develop its digital-first wealth management platform.
The platform builds on Wesleyan’s relationship with SS&C, which has served as the fund transfer agent for the Wesleyan Unit Trust Managers range of funds for over 20 years.
After a competitive tender process, Wesleyan selected SS&C Hubwise to deliver the new platform, which will broaden the range of investment and retirement products available to Wesleyan’s specialist financial advisors and their customers. The platform will give Wesleyan advisors centralised access to open and manage accounts and investments while offering an enhanced, modernised user experience. SS&C will also provide customer service support under the Wesleyan brand, the firm said in a statement.
Access to the offering will open to a select pilot group of advisors in June 2025.
“When fully developed, the new platform will allow us to better meet the savings, investments and wealth needs of doctors, dentists and teachers in an agile way, with the right technology and fund choice,” said Katie Wadey, Wesleyan’s chief product and commercial officer.
The platform will support Wesleyan’s flagship With Profits Fund as well as a broader range under development, the firm added.
Since its acquisition in 2022, SS&C Hubwise has onboarded 25 new firms over the past 18 months. The platform administers more than £20 billion ($27 billion) in assets. SS&C’s growth comes at a critical time for the wealth management community in the UK, as shifting regulatory requirements and technological advancements put increasing pressure on advisors to streamline their advice businesses.
The Wesleyan Group has £7.6 billion of assets under management as at 31 December 2024. SS&C Technologies is a global provider of services and software for the financial services and healthcare industries, headquartered in Windsor, Connecticut, with offices around the world.