The market neutral wrap administration service will combine BNP Paribas Securities Serviceâs back office technology with Distribution Technologyâs end to end planning and sales expertise to deliver a flexible and efficient âoff the shelfâ wrap service for providers and distributors who might otherwise have been restricted by budget, operational capability or expertise from entering the wrap provider market.
The BNP Paribas administration platform supports a range of investment wrappers and can be adapted to administer third party product provider offerings giving it the ability to adapt seamlessly to evolving market needs. The platform currently supports over 1 million accounts representing assets in excess of Â£17.5bn on behalf of 30 key clientsIntegration with Distribution Technologyâs market leading planning and sales platform should provide significant opportunity for market growth. It is an appropriate option for both providers and adviser networks.
Tina Wilkinson, Head of Wealth Management Solutions at BNP Paribas Securities Services said the Company had been looking to extend its wrap offering to the UK market for some time, and its partnership with Distribution Technology helps strengthen its offering to IFAs.
âDistribution Technology was the ideal partner for us, as the leading provider of front-end technology in the UK, when we were looking to integrate back office functions with an efficient client facing interface. Our collaboration enables us to deliver best of breed wrap solutions for providers, IFA networks, and in turn, their clients.â
Ben Goss, CEO of Distribution Technology, added: âBNP Paribas Securities Services is a global force in financial services so we are delighted to support their Composer wrap solution. With their world class back office expertise and Distribution Technologyâs end to end planning and sales technology, BPSS is well placed to offer a cutting edge service for financial institutions looking to fast track into the wrap market.â