Citisoft, the specialist investment management consultancy, has announced the successful completion of a project for Old Mutual's newly-launched IFA multi-manager business Selestia.
Through Selestia's online and offline services IFAs can access a series of tools that employ the same methodology used by major investment corporations, such as insurance companies and investment funds, to put together bespoke portfolios for their clients.
Citisoft was responsible for the definition and implementation of the investment administration process within Selestia, including the selection of FundsHub, which provides the technology infrastructure for the project.
Brett Williams, managing director of Selestia comments: "I believe that we at Selestia have developed a proposition that will revolutionise the way retail investment decisions are made and portfolios are managed in the UK. It is time for a market-led, customer-focused provider, free of the legacy systems that have hamstrung the traditional product providers."
Selestia currently offers ISAs, Pep transfers and collective investments. Offshore bonds and single premium life products will join the range from April 2002, and pension products from 2002, subject to authorisation.