IN FOR A PENNY: A Business Adventure by Unknown
Author:Unknown
Language: eng
Format: epub
ISBN: 0000000000000
Published: 2020-07-31T16:39:45+00:00
It helped that Broker Focus, the new stockbroking system, had a PEP administration service which was built into the software and completely integrated with the system. That meant that whenever we allocated a stockbroking deal to a PEP, it automatically updated the client’s PEP account. Whilst this prototype was not a full forerunner of what Vantage has since become, it was a considerable step along the way. In the late 1990s, Fidelity again forced our hand. They had developed what initially was called a fund supermarket but is also known as “a wrap” or a “platform”. It employed open architecture, meaning that visitors could buy a unit trust from any UK provider, not just Fidelity's own funds. Fidelity called their supermarket “Funds Network”. We felt strongly that this was the way forward for the industry. The attraction was that clients could hold all their investments in a single account, could see the valuation of their entire portfolio on one visit and could deal as and when they wanted. We were one of the first firms to sign up for Funds Network. Fidelity made much of the fact that we were one of their first users in their initial publicity.
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