Brooks Macdonald has entered a strategic partnership with software and technology provider SS&C Technology having hinted at the tie-up last month.
The move signals the firm’s next step in transforming its technological offering to both intermediaries and clients, as it focuses on improving adviser experience and services through innovation.
The collaboration will provide additional tools to intermediaries, such as automated client onboarding, full adviser and client portal functionality, bespoke reporting, and improved processing of application and requests, the company said.
Brooks first teased the partnership in September with chief executive Caroline Connellan (pictured) telling Portfolio Adviser at the time that it would result in a material upgrade to its investment admin and operations.
“It’s all about being easy to do business with and it’s all about market leading digital tools – automated onboarding, a full and intuitive portal functionality, sophisticated reporting – packaged together,” she said at the time.
“This will give us a distinctive and compelling offering, along with our market leading investment propositions that we have now and that rigour of the potentialised investment process that has delivered strong investment performance over the last year in another very difficult market.”
See also: Brooks Macdonald teases tech partnership as it unveils new strategy
Brooks employees to transfer to SS&C
As part of the deal, an undisclosed number of Brooks employees will be transferred to SS&C’s operations team.
The firm said that there are no planned redundancies as part of the alliance.
Connellan said: “We are committed to delivering a best-in-class adviser experience as well as excellent client service, and this exciting partnership with SS&C will further enhance the strong relationships we have today.
“We are uniquely positioned with our focus on advisers and trustees, with a market-leading proposition and strong investment performance. SS&C has an impressive track record and credentials, and through our discussions I have been impressed by their innovative and customer-focused culture.
“Their proven track record in delivering leading-edge technology solutions alongside their deep knowledge and expertise in this area, will allow us to further enhance and differentiate our offering.”
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