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Major admin provider to enter wealth management market
July 30, 2010
FNZ, the biggest provider of technology and investment administration to financial advisers, is set to enter the wealth management market.
The company is to compete with administration providers such as Pershing and Adam & Co - adding further competition to the market, which is expecting a number of new entrants in coming months.
FNZ's largest contracts already see it power the Standard Life and Axa Elevate wraps and most recently it struck a deal with Friends Provident to launch a corporate wrap for the UK market.
However, the company is now branching out into the wealth management space, looking to offer services such as admin management of model portfolios, auto-rebalancing and sophisticated client reporting.
Original Posting At: Citywire
The company is to compete with administration providers such as Pershing and Adam & Co - adding further competition to the market, which is expecting a number of new entrants in coming months.
FNZ's largest contracts already see it power the Standard Life and Axa Elevate wraps and most recently it struck a deal with Friends Provident to launch a corporate wrap for the UK market.
However, the company is now branching out into the wealth management space, looking to offer services such as admin management of model portfolios, auto-rebalancing and sophisticated client reporting.
Original Posting At: Citywire
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