US tech firm improves SIPP offerings to wealth managers
US financial technology provider FIS has enhanced its wealth management solutions with the launch of Self-Invested Personal Retirement Services (SIPP) in the UK.
FIS partners with Quai Digital to provide retirement services to wealth managers.
Quai Digital, a UK provider of investment and retirement services, will use FIS’ wealth management and services solutions to run its savings and investment business
The Florida-based company said its wealth management service is a comprehensive solution that handles portfolio management and can be fine-tuned and tailored to an investment firm’s unique needs.
He added that companies that purchase their wealth management platform through FIS will see their operational overhead reduced by using a managed technology solution.
FIS is a leading provider of technology solutions for traders, banks and capital markets firms worldwide.
In 2013, FIS purchased UK Platform Securities as part of its strategy to improve its UK offerings. Platform Securities is a provider of value-added outsourced clearing and settlement services for wealth managers, retail brokers and institutional brokers.
FIS Head of Platform Securities John Beeston said: “The UK is a global leader in wealth management with £1.3 trillion in assets under management, and with FIS’s advanced offerings, we are ready to help these businesses operate more efficiently.
“The FIS Wealth Management Platform offers a wide range of functionality to wealth managers around the world, and by adding essential services such as SIPP for our UK market, we are committed to becoming the provider of choice for wealth managers. of wealth and retirement from all over the world.”
Quai Digital CEO Tony Webb added, “The pension and retirement investing industry is changing faster than ever with new technologies and new demands from our customers. A partnership with FIS works very well for both parties and allows Quai to enhance its already market-leading infrastructure. and services, so we looked for a solution that we knew would take us into the future.
“FIS will allow us to redouble our focus on our customers while being confident that technology can meet our needs as we continue to grow our business and support FIS’s expansion into pensions.”