Wealth manager platforms at “inflection point”

Digital ageWealth manager Novia Financial - whose CEO says platforms need to increasingly offer digital solutions - has extended its contract with GBST, a technology provider for fund managers and other financial actors.

GBST provides Novia’s core technology system via its Composer platform. The agreement extends back to 2008, when Novia first launched its wealth management service using GBST’s front and back-office systems. 

GBST said Composer is underpinned by an API-enabled microservices architecture that supports over three million accounts and £180 billion assets under management within the UK. 

Patrick Mill, chief executive officer at Novia, said: “The platform market is at an inflection point. If it is to support adviser firms in meeting the evolving needs of their clients, it’s imperative that platforms find ways to offer more flexible technology solutions that are increasingly digital, data-driven, and heavily integrated into other technologies.”

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