11 December 2017
visit www.solutions.lexisnexis.com

Friends outsources unit trust back office

06 November 2002  |  3059 views  |  0 Friends outsources unit trust back office

Isis Asset Management is outsourcing the administration of its entire Oeic and unit trust business to International Financial Data Services (IFDS).

The move will result in the closure of the Friends Provident fund administration division, which had previously administered former Friends, Ivory and Sime funds, at the cost of 40-60 jobs.

The Royal & Sun Alliance portfolios are already administered by IFDS and securing a common platform for the Isis range will enable the group to focus on fund management, as well as facilitating the harmonisation of charges across the merged range, says William Russell, head of retail at Isis.

He says the switch to the shared platform will be completed in the second quarter after the ISA season next year.

Friends Provident initially contracted with Midlands-based Wealth Management Software for the implementation of its Lisa unit trust software back in March 2000. This was followed in May 2001 with a further contract from Friends, Ivory & Sime for development services.

Executives at WMS were unavailable to comment on the implementation of the Lisa suite at Friends. It is not yet clear whether the decision to shut down the Friends Provident back office has any bearing on these contracts.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Barclays outsources life and pensions back office to Liberata

Barclays outsources life and pensions back office to Liberata

06 November 2002  |  7274 views  |  0 comments
Wealth management CRM vendor Customer Dialogue disappears from view

Wealth management CRM vendor Customer Dialogue disappears from view

05 November 2002  |  2542 views  |  0 comments
CSC targets life and pensions outsourcing

CSC targets life and pensions outsourcing

23 October 2002  |  3878 views  |  0 comments
Wealth Management Software cuts staff

Wealth Management Software cuts staff

13 September 2002  |  3169 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.solutions.lexisnexis.comvisit www.aciworldwide.comvisit www.atos.net

Top topics

Most viewed Most shared
Revolut lets customers buy Bitcoin, Litecoin and EthereumRevolut lets customers buy Bitcoin, Liteco...
18244 views comments | 26 tweets | 22 linkedin
Saxo Bank's 'Outrageous Prediction': Bitcoin to peak at $60k next year before spectacular crashSaxo Bank's 'Outrageous Prediction': Bitco...
11148 views comments | 7 tweets | 7 linkedin
Deutsche Bank paper hails 'huge' blockchain potentialDeutsche Bank paper hails 'huge' blockchai...
7110 views comments | 13 tweets | 21 linkedin
Santander UK poaches Barclays innovation chief Michael HarteSantander UK poaches Barclays innovation c...
6506 views comments | 8 tweets | 17 linkedin
Barclays, First Direct and Nationwide join FCA sandbox cohortBarclays, First Direct and Nationwide join...
5904 views comments | 5 tweets | 12 linkedin

Featured job

Competitive base, commission, benefits
London, UK

Find your next job