London - DST International (DSTi), the leader in Investment Management solutions for the financial services industry, announced today that it has acquired the company Pensions and Actuarial Services, Ltd. (PAS) in the UK. PAS are the leading providers of pensions planning and calculations software in the UK. The PAS development team that joins DSTi includes actuaries and financial planning experts and will be based at DSTi's head office in Surbiton.
PAS's systems are used by more than half of all the Independent Financial Advisors as well as most of the major insurers, banks and building societies in the UK.
The acquisition of PAS is central to DSTi's strategy to develop further its market leading Wrap solution in the UK. PAS's software greatly enhances DSTi's advisor oriented front end, and provides quotations, calculations and illustrations for both DSTi's and other pension administration systems.
PAS will continue to exist as DSTi PAS, marketing its existing solutions to existing markets, in addition to becoming a key component to DSTi's Wrap solution.
PAS Managing Director, Jim Bruce said. "The take over provides PAS with the additional resources to develop further its industry leading financial planning solutions. Integrating the PAS planning tools with the DSTi Wrap platform will provide clients with the most complete solution in the market."
DSTi Product Director, Tim Rudlin said. "PAS pension calculations including its simplification planner is being included in DSTi's new SIPP administration solutions. The SIPP system can be stand alone or part of the Wrap platform."
PAS will continue to provide its calculation and planning systems on a stand-alone basis to the major insurance companies, banks and financial advisers who are its main clients. PAS financial planning tools are available to in excess of 20,000 IFAs through the Exchange and Bankhall portals.
PAS developed the award winning Simplification Planner for Winterthur Life. This provides IFAs with a simple to use but powerful system to enable them to advise their clients on the effects of Pension Simplification.
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