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Abbey reveals new release of James Hay Wrap and agreement with InfoComp for next generation platform in 2007
Abbey Wealth Management has announced a major upgrade to its Wrap platform, which will be released at the end of next month. The upgraded platform has some 30 key enhancements for IFAs and will launch under the new brand of ‘James Hay Wrap’ on 30th October, with a raft of new functionality.
Details are being previewed in IFA roadshows during October, following a special advance event for the Abbey Wrap Partners’ Forum, the group of IFAs who meet regularly with James Hay and whose feedback has driven the development of the upgrade.
Abbey has also announced more detail of its future plans for James Hay Wrap. As one of the longest-standing and most established Wraps in the market, it is building further on its position and has now committed to a further multi million pound investment, including a seven figure agreement with Australian firm InfoComp, that will provide the technology for significant further developments to the James Hay Wrap platform, due to be available from the second half of 2007. Future enhancements will again be developed using the feedback from Abbey’s Wrap Partners’ Forum.
Stefano Del Federico, UK Sales Director, Abbey Wealth Management, said: “We have already written 70 per cent more new business than this time last year on our Wrap platform and are taking on new IFA customers at an increasing rate.
“We said at the start of the Summer that we would consolidate the significant investment and experience that we already have, to ensure that we are a market leading Wrap provider for the long term. We have worked tirelessly to finalise how to achieve this, and now, we’re putting our money where our mouth is. IFAs will benefit from the upgraded website from the end of October, and can look forward to a further upgrade next year, powered by InfoComp’s Composer Platform.”
Stuart Reilly, Head of SIPP and Wrap marketing, James Hay, added: “The release of our upgraded Wrap website at the end of next month will radically improve the service we can offer our IFAs before next year’s new platform launch. Cross client analysis, client access, bulk fund trading, and secure messaging in and out, are just some of the new website features that will save IFAs time and provide a better service to their clients.”
Rob DeDominicis, CEO, InfoComp, said: “Naturally we’re pleased to have won such a prestigious account. We were confident that the Composer Platform put us in a strong position to provide James Hay with the superior functionality, scaleability and enhanced product capability they required. James Hay is an ideal foundation client for our UK expansion and makes an excellent addition to our list of blue chip clients.”
Bryan Hill, Director, InfoComp UK: “We are delighted that our Composer Platform has been chosen by Abbey as the core technology component to underpin the growth of both its market leading James Hay SIPP solution and James Hay Wrap.
”We believe the combination of James Hay’s market leading suite of products combined with the additional functionality, flexibility and product features that our established Composer platform can deliver, will create a market offering second to none, the result being a true "client-centric" solution specifically customised to meet the precise requirements of James Hay’s clients and staff."
Earlier this Summer, Abbey announced a commitment to the intermediary market with ambitious plans to grow its share of the UK investment market. It aims to grow its intermediary investment sales by nearly 200% by 2008. A major element of this is a focus on its Wrap proposition. Together, the James Hay SIPP and Wrap businesses have over £11 billion under administration.
In addition to all the features of the existing Wrap website, the following are examples of newly-added functionality, online from the end of October:
Details are being previewed in IFA roadshows during October, following a special advance event for the Abbey Wrap Partners’ Forum, the group of IFAs who meet regularly with James Hay and whose feedback has driven the development of the upgrade.
Abbey has also announced more detail of its future plans for James Hay Wrap. As one of the longest-standing and most established Wraps in the market, it is building further on its position and has now committed to a further multi million pound investment, including a seven figure agreement with Australian firm InfoComp, that will provide the technology for significant further developments to the James Hay Wrap platform, due to be available from the second half of 2007. Future enhancements will again be developed using the feedback from Abbey’s Wrap Partners’ Forum.
Stefano Del Federico, UK Sales Director, Abbey Wealth Management, said: “We have already written 70 per cent more new business than this time last year on our Wrap platform and are taking on new IFA customers at an increasing rate.
“We said at the start of the Summer that we would consolidate the significant investment and experience that we already have, to ensure that we are a market leading Wrap provider for the long term. We have worked tirelessly to finalise how to achieve this, and now, we’re putting our money where our mouth is. IFAs will benefit from the upgraded website from the end of October, and can look forward to a further upgrade next year, powered by InfoComp’s Composer Platform.”
Stuart Reilly, Head of SIPP and Wrap marketing, James Hay, added: “The release of our upgraded Wrap website at the end of next month will radically improve the service we can offer our IFAs before next year’s new platform launch. Cross client analysis, client access, bulk fund trading, and secure messaging in and out, are just some of the new website features that will save IFAs time and provide a better service to their clients.”
Rob DeDominicis, CEO, InfoComp, said: “Naturally we’re pleased to have won such a prestigious account. We were confident that the Composer Platform put us in a strong position to provide James Hay with the superior functionality, scaleability and enhanced product capability they required. James Hay is an ideal foundation client for our UK expansion and makes an excellent addition to our list of blue chip clients.”
Bryan Hill, Director, InfoComp UK: “We are delighted that our Composer Platform has been chosen by Abbey as the core technology component to underpin the growth of both its market leading James Hay SIPP solution and James Hay Wrap.
”We believe the combination of James Hay’s market leading suite of products combined with the additional functionality, flexibility and product features that our established Composer platform can deliver, will create a market offering second to none, the result being a true "client-centric" solution specifically customised to meet the precise requirements of James Hay’s clients and staff."
Earlier this Summer, Abbey announced a commitment to the intermediary market with ambitious plans to grow its share of the UK investment market. It aims to grow its intermediary investment sales by nearly 200% by 2008. A major element of this is a focus on its Wrap proposition. Together, the James Hay SIPP and Wrap businesses have over £11 billion under administration.
In addition to all the features of the existing Wrap website, the following are examples of newly-added functionality, online from the end of October:
- Cross client analysis tools
- Family Wrap view
- Secure messaging in and out
- Direct client access
- Multiple dual-branding options
- Document management and audit facility
- Bulk fund trading
- Dynamic graphs and fund fact sheets
- Favourite client list
- Online change of client address
- Dynamic transaction filters
- Access to historical asset holding
- Cross client tools to provide a consolidated view of all clients at once
- Ability to communicate online through secure messaging
- Enhanced functionality to save time and to enable efficient delivery of superior services