The pensions administration and software provider has launched a new branch of its business, Legacy Asset Systems Limited (LAS), to provide the service, which it says will allow advisers to achieve returns on investment in less than a year, and in some cases as little as three months.
Chris Read, chairman of Dunstan Thomas and founding partner at LAS, said: “By providing a complete change management process, with joined up support tools and services that turn all of the daily obstacles into stepping stones, we can enable IFAs to transform their operations into full wealth management firms as new model advisers.”
Research by Standard Life reported that there was an estimated £1.9trn worth of legacy assets being held in underperforming, often unmanaged, equity-based funds, which LAS said presents a “significant opportunity” to transfer such assets into fully functional wrap platforms.
All the company’s processes are fully compliant with Financial Services Authority (FSA) regulation, the importance of which was made clear by the FSA in its thematic review of pension switching. The review criticised some advisers for giving inappropriate or inadequate advice when it came to transferring assets.
LAS aims to provide support, advice and systems to enable advisers to identify suitable clients and create legacy asset migration plans, specific to individual clients’ needs, and the firm will be formally launched in June.
Dunstan Thomas has also published a guide for new breed advisers and wrap platform users and providers. Wrap platforms: Transforming the way advisers do business offers advice for building successful platforms as well as the benefits of such products to providers.
