Ascentric is a new independent asset
consolidation service available exclusively to IFAs. Commonly
referred to as a "Wrap Platform", Ascentric uses the most modern and
cost-effective Wealth Management system in the UK and offers
fully integrated online viewing and dealing facilities.
The Ascentric Wrap Platform enables IFAs to transfer their client's assets onto a single platform and provide them with the ability to manage their clients' financial needs from one place. This provides a significant improvement on the traditional arrangement whereby IFAs introduce their clients to different providers of financial products. The Ascentric
wrap platform enables IFAs to switch products and funds easily to achieve better investment returns for the client.
For the client the Ascentric wrap platform allows a consolidated view of their investments across all asset types and tax wrappers, leading to greater control of their affairs and a consequent strengthening of the value they place on the service received from their IFA. A significant benefit of this 'single view' will be the ability to analyse properly asset allocation thus ensuring that portfolio risk reflects accurately client tolerance and can easily be modified should objectives or risk tolerance change over time.
Independence and IFA ownership is core to the Ascentric proposition. The company provides the ability for IFA users to share in the capital value created by the aggregation of their clients' assets. At present this benefit rests with the product providers. The Ascentric service moves this value from product providers to the IFAs and allows the IFAs to realise a sensible share in the intrinsic asset value of the business.
The Ascentric wrap platform is fully web-enabled and allows IFA clients to aggregate their investments in one central
location to hold, manage and view their entire portfolio quickly
and efficiently. Ascentric removes the traditional need for a
product provider to deliver the different product tax Wrappers
like ISAs, Pensions and Insurance Bonds by having all of
these Wrappers available on the one platform.
Ascentric allows
direct holdings of unit trusts, OEICs, equities, bonds
(government gilts and corporate bonds), life assurances and
cash. The Ascentric service allows IFAs and their clients to
record assets and/or liabilities like property, mortgages, loans
and life assurance policies.
The Ascentric Wrap service provides extensive
facilities to administer:
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Independent of any Product Provider |
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'Whole of Market' access to third party products e.g. SIPPs and Offshore Bonds (see IFA Zone for details) |
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All tax wrappers including ISA, SIPP, SSAS and Offshore Bonds and an unwrapped General Investment Account |
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Wide selection of asset types including over 1900 funds, shares, bonds and cash |
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IFA branded website |
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IFA equity participation |
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Multiple cash accounts and interest facilities
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Full custody capabilities for nominee, certificated,
CREST and external holdings
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Integrated online facilities including valuations and
trading
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Ability to record and track non-custody holdings (e.g.insurance and other policies)
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High levels of back-office automation and straight
through processing (STP) |
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A comprehensive range of account, asset and transaction
charging mechanisms
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