Approximately 66% of all UK assets on the platform now sit within pension wrappers covering both accumulation and at retirement propositions; compared to 45% of assets across the advised platform market as a whole*. GBST’s high market share reflects its particular success within the UK life and pensions sector and continued investment in technology to support retirement products. Recent pension-related updates include improved annuity and drawdown capabilities and the addition of investment pathway functionality to meet new UK pension decumulation rules.
David Simpson, Head of EMEA at GBST, comments:
“The rise in assets on Composer shows the success of our clients’ propositions and demonstrates the flexibility and scalability of our technology to support continued growth in assets under management and accounts. A number of our clients have also recently completed successful migrations, ensuring that they have a stable and secure platform on which to continue building their business.
“All our clients benefit from GBST’s continued investment in innovation and technology. As part of our ongoing service, we constantly deliver new business features which help enhance and future-proof client propositions as the industry, regulation and consumer needs change and evolve. Alongside our extensive new pension-related functionality, recent updates include additional bond capabilities and a partnership with Origo’s Integration Hub to support client integrations with a wider range of adviser back office systems. We are now ready to deliver the latest upgrades to the Composer platform, creating what we believe is the best technology architecture in the market. The Composer upgrade is the final phase of the E-VOLVE technology transformation programme, following earlier releases that enhanced the database, APIs and the front-end digital experience with the launch of Catalyst.”
*As at 30 September 2019. Source: The Value Myth: State of the Platform Nation, the lang cat.