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February 5, 2019

Quilter soft launches replatforming project

British wealth manager Quilter has started the soft launch phase of its UK platform transformation programme.

Under the soft launch, the employees of the company will test the platform’s features in a live environment.

Employees will use their own money for the trial before accepting external funds.

Quilter platform marketing boss Jeremy Mugridge said that the soft launch will be carried out on a phased basis.

Initially, employees will test features such as topping up their ISAs or opening a new pension, with more features expected to be trialled in the next few months.

Through the soft launch phase, the firm will test most of the platform’s functionality.

However, Mugridge said that some features are still in the development phase.

Mugridge also did not give a precise date as to when the platform would be made available to advisers.

However, he said that it would be dependent on the outcome of the soft launch.

Mugridge further noted that Quilter will not speed up, but will instead focus on the quality aspect of the project.

Quilter CEO Paul Feeney said: “The high quality de;livery of this programme remains of utmost importance to us and we continue to prepare detailed migration plans to ensure customers and advisers remain well supported throughout the transition period.”

Feeney called the soft launch phase an “important milestone”.

In 2017, Quilter terminated its alliance with IFDS that was earlier the technology provider for the project.

By that time, Quilter already spent around £330m for the project out of its estimated total of £450m.

Quilter is now conducting the project in collaboration with technology firm FNZ.

 

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