Australian wrap provider InfoComp has entered the UK market with its wrap proposition Composer, available only as a white labelled product.

Having carried out a review of the UK market, the firm, which set up an office in London in 2004, has spent the past two years modifying its software to make it UK compliant.

Explaining that the platform has the ability to administer a full range of products and wrappers, InfoComp's UK managing director Bryan Hill said it is up to the firms using the service, be it an intermediary group or a bank, to choose what to include.

He added that the firm using the platform would be responsible for setting up arrangements with product providers, and in most cases would already have done so, and will negotiate pricing itself.

Composer has the capacity to deal with unwrapped funds, Isas, Peps, Sipps, personal pensions and group personal pensions and has external life company links for the provision of onshore and offshore bonds.

Once the platform has been configured for a particular company, it will be able to access all the usual services, such as online application forms and regulatory reports, via the internet.

Though InfoComp was established in Australia in 1988, Hill said it took two years to make the service UK-compliant because of the difference in tax wrappers between the two countries.

By Margaret Taylor
Investment Week