UK's first Wrap solution, Lifetime launched courtesy of DSTi Australian technology
Announcement posted by DST International 27 May 2005
DSTi expertise responsible for The Bigger Picture for UK investors
A technology platform emanating from Australia is revolutionising the UK investment marketplace following the launch of the DST International (DSTi) Wrap solution which offers Wrap programs and Managed Accounts.
DSTi, a leading provider of business solutions for the investment management industry, announced recently that the Lifetime Group of Companies (Lifetime) has gone live with the DSTi Wrap solution, HiWealth.
The service comprises of DSTi's HiWealth front and middle office investment management solution, AWD DSTi's business process management solution, HiPortfolio DSTi's portfolio administration and fund accounting solution, and HiWay DSTi's data transformation, messaging and internal systems integration solution.
DST International Australia and New Zealand Chief Executive Officer Ian Mathieson said the company's experience in Australia's more mature investment management market, where multi-manager distribution platforms are an integral part of the investment landscape, was key to Lifetime selecting DSTi.
"The in-depth understanding we have of the ever evolving Wrap scene here in Australia was recognised by Lifetime when it came to selecting a partner who could deliver the goods. DSTi is not simply a technology company we are a true business partner with a sound level of understanding of investing and how advanced business solutions revolutionise investment infrastructure," he continued.
"We have had a dedicated team of consultants and developers working with Lifetime's Australian-based Wrap team and the results are now changing the face of the UK's investment marketplace. However the initial deployment is just the beginning of what we believe will be an ongoing Australian success story. This first rollout has set the stage and we believe other providers will follow suit and adopt DSTi Wrap solutions," concluded Mathieson.
According to Mike Winn, DSTi Group Chief Executive Officer, "DSTi is delighted to be Lifetime's technology partner for this innovative offering. Lifetime's Wrap (The Bigger Picture) utilises existing DSTi industry-leading application software together with our proven work management solutions and a bespoke Lifetime front-end to meet the needs of Lifetime, the IFA's and their clients. DSTi believes that Wrap will be an important part of the UK investment community."
Jeremy Bradburne, Lifetime Group's CEO, also commented: "There is no doubt that Wrap services are going to play a major part in the future of the UK advisory market. We believe that The Bigger Picture offers a simple, attractive Wrap solution designed firmly with the needs of both client and adviser in mind. Having the skills and experience that DSTi brings, behind our core technology means we can look forward with confidence as the UK Wrap industry develops and our business grows in the future."
Lifetime will offer a range of retail investment products in the UK, designed for the mass affluent customer segment, which will be offered through advisers and distribution groups. They include three 'tax wrapper' types of products and one 'non-tax-advantaged' wrapper:
Self-Invested Pension Plan (SIPP)
Individual Savings Account (ISA)
Personal Equity Plan (PEP)
General Investment Account
The system allows investors to subscribe cash and invest in the full range of asset types supported by the Lifetime system, with low lump sum and regular contribution level limits. All four account types will allow both cash and in-specie transfers. The client/advisor will be able to record personal assets other than those mentioned in the three products. The system will record the assets, but not do any calculations based on the assets.
The investor or their adviser can receive consolidated portfolio reports across all their investment funds and products via the external information and enquiry system.
The Lifetime Wrap solution was a co-development project between DSTi software developers, analysts and developers from Lifetime and was completed in Australia. The project was responsible for integrating the various DSTi solutions, AWD, HiWay and HiPortfolio into the front end system known as HiWealth in Australia.
About DST International (DSTi)
With 18 offices and over 1300 professionals to support its growing client base, DST International provides a unique and comprehensive range of investment management and business process management software solutions and related services to 600 clients in 55 countries.
Through local offices in Sydney, Melbourne and Wellington, the company employs almost 200 staff in its sales, development, client services and support divisions. Responsible for hosting the global development centre for the company's flagship product, HiPortfolio/3 and HiTrust, DST International solutions can be found in over 100 client sites in Australia and New Zealand. Current Australasian clients include AMP, ANZ, Commonwealth Bank of Australia, Credit Suisse, ING, JB Were, JP Morgan, Macquarie Bank, Merrill Lynch, National Australia Bank, NRMA, Royal Bank of Canada, Royal & SunAlliance, State Street, Suncorp Metway, Tower Life, Vanguard and Zurich.
http://www.dstinternational.com
About DST Systems, Inc.
Our parent company, DST Systems, provides sophisticated information processing and computer software services and products that help clients improve productivity, increase efficiencies, and provide higher levels of customer service. DST is organised domestically and internationally into three operating segments: Financial Services, Customer Management, and Output Solutions. DST operates one of the most advanced data centres in the world, which provides information-processing services to support the products within each operating segment. These products are further enhanced through the integration of DST's advanced technology and e-commerce solutions.
About Lifetime Group
The Lifetime Group's wrap proposition The Bigger Picture will provide a consolidated investment and asset management service enabling effective asset allocation and fund selection. Available to investors exclusively through financial advisers, it will allow them to access a consolidated view of their assets and liabilities through a single web-site, thereby creating an overall wealth picture and giving them a new way of managing their money.
The Bigger Picture is powered by technology from DST International (DSTi), a leading global provider of software to financial institutions and the largest processor of mutual funds in the world.
This gives Lifetime a proven technology solution which is both scaleable and robust and is already responsible for the administration of billions of dollars of client assets around the world.
The Lifetime Group was formed in 2002 to develop a new kind of financial advisory solution for the UK market and is headquartered in Cambridge.
DSTi, a leading provider of business solutions for the investment management industry, announced recently that the Lifetime Group of Companies (Lifetime) has gone live with the DSTi Wrap solution, HiWealth.
The service comprises of DSTi's HiWealth front and middle office investment management solution, AWD DSTi's business process management solution, HiPortfolio DSTi's portfolio administration and fund accounting solution, and HiWay DSTi's data transformation, messaging and internal systems integration solution.
DST International Australia and New Zealand Chief Executive Officer Ian Mathieson said the company's experience in Australia's more mature investment management market, where multi-manager distribution platforms are an integral part of the investment landscape, was key to Lifetime selecting DSTi.
"The in-depth understanding we have of the ever evolving Wrap scene here in Australia was recognised by Lifetime when it came to selecting a partner who could deliver the goods. DSTi is not simply a technology company we are a true business partner with a sound level of understanding of investing and how advanced business solutions revolutionise investment infrastructure," he continued.
"We have had a dedicated team of consultants and developers working with Lifetime's Australian-based Wrap team and the results are now changing the face of the UK's investment marketplace. However the initial deployment is just the beginning of what we believe will be an ongoing Australian success story. This first rollout has set the stage and we believe other providers will follow suit and adopt DSTi Wrap solutions," concluded Mathieson.
According to Mike Winn, DSTi Group Chief Executive Officer, "DSTi is delighted to be Lifetime's technology partner for this innovative offering. Lifetime's Wrap (The Bigger Picture) utilises existing DSTi industry-leading application software together with our proven work management solutions and a bespoke Lifetime front-end to meet the needs of Lifetime, the IFA's and their clients. DSTi believes that Wrap will be an important part of the UK investment community."
Jeremy Bradburne, Lifetime Group's CEO, also commented: "There is no doubt that Wrap services are going to play a major part in the future of the UK advisory market. We believe that The Bigger Picture offers a simple, attractive Wrap solution designed firmly with the needs of both client and adviser in mind. Having the skills and experience that DSTi brings, behind our core technology means we can look forward with confidence as the UK Wrap industry develops and our business grows in the future."
Lifetime will offer a range of retail investment products in the UK, designed for the mass affluent customer segment, which will be offered through advisers and distribution groups. They include three 'tax wrapper' types of products and one 'non-tax-advantaged' wrapper:
Self-Invested Pension Plan (SIPP)
Individual Savings Account (ISA)
Personal Equity Plan (PEP)
General Investment Account
The system allows investors to subscribe cash and invest in the full range of asset types supported by the Lifetime system, with low lump sum and regular contribution level limits. All four account types will allow both cash and in-specie transfers. The client/advisor will be able to record personal assets other than those mentioned in the three products. The system will record the assets, but not do any calculations based on the assets.
The investor or their adviser can receive consolidated portfolio reports across all their investment funds and products via the external information and enquiry system.
The Lifetime Wrap solution was a co-development project between DSTi software developers, analysts and developers from Lifetime and was completed in Australia. The project was responsible for integrating the various DSTi solutions, AWD, HiWay and HiPortfolio into the front end system known as HiWealth in Australia.
About DST International (DSTi)
With 18 offices and over 1300 professionals to support its growing client base, DST International provides a unique and comprehensive range of investment management and business process management software solutions and related services to 600 clients in 55 countries.
Through local offices in Sydney, Melbourne and Wellington, the company employs almost 200 staff in its sales, development, client services and support divisions. Responsible for hosting the global development centre for the company's flagship product, HiPortfolio/3 and HiTrust, DST International solutions can be found in over 100 client sites in Australia and New Zealand. Current Australasian clients include AMP, ANZ, Commonwealth Bank of Australia, Credit Suisse, ING, JB Were, JP Morgan, Macquarie Bank, Merrill Lynch, National Australia Bank, NRMA, Royal Bank of Canada, Royal & SunAlliance, State Street, Suncorp Metway, Tower Life, Vanguard and Zurich.
http://www.dstinternational.com
About DST Systems, Inc.
Our parent company, DST Systems, provides sophisticated information processing and computer software services and products that help clients improve productivity, increase efficiencies, and provide higher levels of customer service. DST is organised domestically and internationally into three operating segments: Financial Services, Customer Management, and Output Solutions. DST operates one of the most advanced data centres in the world, which provides information-processing services to support the products within each operating segment. These products are further enhanced through the integration of DST's advanced technology and e-commerce solutions.
About Lifetime Group
The Lifetime Group's wrap proposition The Bigger Picture will provide a consolidated investment and asset management service enabling effective asset allocation and fund selection. Available to investors exclusively through financial advisers, it will allow them to access a consolidated view of their assets and liabilities through a single web-site, thereby creating an overall wealth picture and giving them a new way of managing their money.
The Bigger Picture is powered by technology from DST International (DSTi), a leading global provider of software to financial institutions and the largest processor of mutual funds in the world.
This gives Lifetime a proven technology solution which is both scaleable and robust and is already responsible for the administration of billions of dollars of client assets around the world.
The Lifetime Group was formed in 2002 to develop a new kind of financial advisory solution for the UK market and is headquartered in Cambridge.