UK wealth manager Charles Stanley, one of the oldest companies listed on the London Stock Exchange, has selected Allfunds to provide a platform to help it serve the UK market.
The company said it had made the choice partly on the basis of Allfunds ability to offer segregated accounts, a feature it says is “an increasingly important feature for UK wealth managers”.
Christopher Aldous, head of Distribution, Charles Stanley, said: “We are confident that this partnership with Allfunds will benefit not only Charles Stanley but intermediaries and their clients as well. We are continually looking to enhance our client offering and will be introducing a number of other measures throughout the coming year.”
Simon Shapland, Allfunds head of UK and Ireland said: “It is becoming increasingly clear that the more we can do to provide wealth managers with the tools to undertake business simply, and in a secure and safe environment, the more we are meeting with success. We are particularly pleased that Charles Stanley has recognised the growing important of segregated accounts because we have seen growing demand for solutions which provide greater transparency in areas of increasingly complex regulation. Also, and of great importance in a tough trading environment, our approach to segregated accounts offers wealth managers the opportunity to grow their businesses in a scalable way.”
Allfunds claims £145bn (€185bn) assets under administration, with 43,000 funds from 462 fund managers on its platform.