Misys announced today that AEGON UK has become a shareholder in AssureWeb, its e-trading portal for Independent Financial Advisers (‘IFAs’).
AEGON UK joins four other product providers – Clerical Medical, Friends Provident, Norwich Union and Scottish Widows – who have collectively made a 9.2m investment in AssureWeb to enhance and develop the portal, as well as committing to payments of 16.8m for services related to usage of the portal. The five providers jointly own 40% of AssureWeb, with Misys retaining a 60% stake.
Commenting on the investment, David Henderson, Group Chief Executive, AEGON UK said: “Our investment in AssureWeb supports our strategy of working closely with IFAs and the rest of the financial services industry to deliver a sophisticated, business-to-business e-trading environment. We are committed to driving down costs through better technology in order to improve the quality of service for providers, IFAs and consumers alike.”
AssureWeb will continue to offer open access to all product providers and all IFAs, regardless of whether or not they are an investing provider or a Misys network member.
AssureWeb’s e-trading capabilities are being integrated with mi-solution, the IFA desktop software, launched to Misys network members last week. Over 1,000 IFAs have signed agreements to use mi-solution.
Helen O’Dea, Chief Executive, AssureWeb, added: “We are delighted with the major progress we have made in our technology strategy for IFAs and product providers. The commitment by AEGON UK and the other leading providers demonstrates that the industry is serious about bringing down costs.”