Bath-based Ascentric is a wrap platform service available only to financial advisers, offering integrated online viewing and dealing facilities. It allows advisers and clients to aggregate their investments in one location to manage and view their portfolio quickly and efficiently.
The platform removes the need for different product tax wrappers such as ISAs, pensions and insurance bonds by having all of these available via the one platform.
Ascentric allows for the holding of unit trusts, OEICs, equities, bonds (government gilts and corporate bonds), life assurances and cash. The platform also allows advisers and their clients to record assets and/or liabilities such as property, mortgages, loans and life assurance policies.
Ascentric is owned by IFDL, a subsidiary of mutual insurer Royal London.
Ascentric managing director Hugo Thorman is to leave the firm this summer following Royal London's buyout of the platform's minority shareholding in the business.
Ascentric's managing director, Hugo Thorman, has argued advisers' use of model portfolios is hindering the popularity of investment trusts.
Platforms are stepping up their white-label investment offerings to advisory firms as an increasing number of orphaned clients presents a challenge ahead of the 2016 legacy commission ban.