This implementation is the latest in a series of wins for IRESS, demonstrating its continued momentum and strong demand for its integrated wealth management solutions.
Tilney Bestinvest is a leading UK financial planning and investment management group that looks after more than £20 billion in assets for private clients, charities and financial advisers. During 2016, Tilney Bestinvest acquired established national financial planning and wealth advice service business Towry, also an existing IRESS client. The combined business has over 300 financial planners and investment managers, operating across a network of more than 30 UK offices.
IRESS has delivered a single wealth technology platform for Tilney Bestinvest to meet its needs across financial planning, portfolio management, trading and market data, multi-channel client engagement and reporting. The solution incorporates integration to multiple third-party platforms and executing custodians.
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.
Simon New, IRESS Group Executive, Strategy said: “Clients such as Tilney Bestinvest reflect the growing trend for integrated retail financial services businesses to seek an efficient and unified technology platform.
“Organisations such as Tilney Bestinvest are leading the market in providing services to clients across traditionally separate services and delivery channels. To help achieve this, Tilney Bestinvest is investing in technology to support its future growth by developing consistent and scalable operations.
“The new solution and operating model will enable Tilney Bestinvest to realise its ambitious business strategy, by moving its Investment Managers & Financial Planners to one operating platform, standardising processes, removing manual workarounds, improving its cost-to-income-ratio and creating a seamless, engaging client experience. It also completes and deepens our existing integration with Pershing, automating the full financial planning and investment lifecycle.”
Commenting on the introduction of IRESS’ Private Wealth Management solution, Peter Hall, Tilney Bestinvest Chief Executive Officer, said:
“A direct benefit of the greater scale we have achieved in recent years has been our ability to invest heavily in the latest technology and infrastructure to further improve the services we deliver to our clients. This will also improve our operational efficiency and create a leading-edge platform that is much more scalable for future growth. This is an important strategic partnership.. We didn’t just want new software – we wanted a single technology platform to help us transform our business and to be able to continue to grow with confidence. The solution delivered by IRESS unifies and streamlines processes across the organisation as well as meeting our client and compliance needs.”
This successful implementation follows a period of close engagement by IRESS across Tilney Bestinvest, as well as with its executing custodian and back office, Pershing. It builds on IRESS' growing momentum during 2016.
Telephone: +44 (0) 1926 621 410
Mobile : +44 (0) 7796 271 584
Pamela Morris / Mark Locke
the lang cat
Telephone: +44 (0) 131 202 5994
Telephone: +44 (0) 3818 6664
New functionality will automate the process of obtaining whole of market rates, enabling annuity providers to present the comparison of rates needed to meet the new requirements.
IRESS today announces it has updated its Whole of Life Service on The Exchange, the award winning comparison quote and transaction portal.
Aegon is the latest provider to offer partially underwritten quotes through The Exchange.
Two new protection products from Canada Life are to be made available to intermediaries exclusively through The Exchange
The Exeter will be making its new bespoke life insurance plan, Managed Life, available through The Exchange.
The 2017 Intermediary Mortgage Survey findings are revealed
Our 2016 full year results are out. Read the full report and commentary from our CEO Andrew Walsh.
TSB will roll out our latest generation mortgage technology to its intermediary channel this summer.
IRESS has launched its latest Retirement Report.
IRESS has successfully implemented its Mortgage Sales and Originations (MSO) solution for Atom Bank's first mortgage proposition.
IRESS announces significant enhancement to its online portal, The Exchange, with the addition of new protection underwriting capability.
XPLAN Mortgage has launched a new Protection Sourcing module, providing seamless integration with The Exchange and further streamlining the end to end mortgage sales journey.