Source: Vertex Financial Services
Vertex Financial Services, parent group of leading technology suppliers 1st and The Exchange, today announced that John Scott & Partners (JS&P) has selected its integrated, straight-through-processing (STP) technology proposition to support its new wealth management group, created following JS&P’s recent acquisition of Towry Law.
Implementing 1st's Adviser Office technology supported by 1st's consultancy services, the JS&P solution provides a unique straight-through process to cater for the adoption and management of the full wealth management needs of clients. JS&P and Towry Law together have over 200 qualified advisers and this newly formed group is one of the largest independent businesses in the industry with an annual revenue in excess of £50m.
David Child, managing director of Vertex Life, Pensions & Distribution and The Exchange, comments: "We are delighted to conclude this major contract for a complete STP solution with one of the UK's leading wealth management companies. The benefits of using Adviser Office, seamlessly integrated with Exweb for protection business and Pulse for investment management, will give JS&P/Towry Law a tremendous competitive advantage - eradicating many of the usual problems advisers face with ad-hoc technology solutions."
Andrew Fisher, chief executive, JS&P, comments: "The combined strengths of Towry Law and JS&P makes us a powerful force in the professional adviser marketplace as we continue to focus on building long-term client relationships through the provision of the highest quality advice. As long-standing users of 1st prior to the acquisition, we were already impressed with the commitment and service which we had received and now with the powerful additional functionality delivered by The Exchange, the complete STP solution will give our wealth advisers a simple but effective business tool."
Rory Curran, executive chairman, 1st, continues: "We have worked with JS&P previously, with many of their users already very familiar with Adviser Office. We were extremely pleased to be selected to provide the technology for the combined businesses of JS&P and Towry Law and they will both now enjoy the advantages of a complete end to end solution tailored to fully support their unique proposition".