WEALTH MANAGEMENT SOFTWARE LAUNCHES ‘WRAP FUND ADMINISTRATION SYSTEM’

Wealth Management Software plc has launched a version of its flagship LISA® system, LISA® version 10, that is the first software in the UK to support all 'tax wrappers' in a single, client centric solution. The solution is intended to support the needs of multi tied agents in a post CP121 world, and also the needs of fund supermarkets and third party administrators.

LISA® version 10 supports ISAs, PEPs, SIPPs, stakeholder pensions, unit linked life products, equities, gilts, bonds, OEICs and unit trusts. It allows for regular savings and regular withdrawals.

Paul Newton, Wealth Management Software’s Chief Executive said, "The world of financial services is becoming more competitive and more integrated by the day. The aim of LISA® version 10 is to enable financial services industry participants to take massive cost out of their overhead base. We believe that IT and administration costs can be lowered by more than 50% using this solution."

Paul Foll, Wealth Management Software’s Sales Director said, "We are seeing a strong trend towards fund supermarkets, IFAs, banks and building societies supplying funds from a panel of product providers. CP121 will strengthen this trend. In our view the competitive edge of the future will come from these multi tied agents providing superior service and value for money propositions based upon modern technology. Technology enables the provider to give an outstanding service akin to private banking at costs that are hugely lower than ever before. It also enables the rapid introduction of newer and safer investment products to a risk averse client base."

Wealth Management Software is an AIM listed software product and services business that develops solutions exclusively for the retail and institutional investment market. With more than 150 employees, it has offices in the UK and Europe. The company’s systems support some one million private clients: users include many of the largest financial institutions in Europe, and some smaller offshore institutions.

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