Friends Provident has announced it is teaming up with investment administrators FNZ to deliver a new corporate wealth management platform.
The partnership will provide Friends Provident with the capability to offer an enhanced workplace platform for its customers. This platform [also referred to as a corporate wrap] will be delivered during 2010.
The technology will allow employers to integrate benefit packages for their employees to include pension and non-pension products such as a corporate ISA. The new platform will operate in conjunction with Friends Provident’s New Generation Pensions (NGP) platform.
Central to the platform will be an online trading facility that will enable funds to be transferred between different investment vehicles. Using this infrastructure, Friends Provident will deliver an investment platform for institutional clients, such as pension fund trustees, as well as an enhanced group self invested personal pension and a corporate ISA.
The platform will also contain member engagement and financial education tools. In the future it will also enable the delivery of an individual self invested personal pension.
Simon Clamp, managing director, UK, at Friends Provident said: “The new contract we have negotiated with FNZ marks an exciting milestone for Friends Provident. Benefit consultants and employers are redefining their approach to corporate benefits in the work place – recognising that the future is much more than simply providing pension products.”