A new platform operating model

Smaller firms have traditionally found operating a platform too expensive and complex. But by outsourcing some key tasks to us, it’s never been easier.

Outsource the technical tasks to us...

  • Client money and custodian obligations.
  • The technical process behind the trading and settlement of investments.
  • User interfaces for advisers, investment managers or end investors.

Focus on what's important to you

  • Deliver a great client experience.
  • Build your business how you want.
  • Become more efficient, and avoid rekeying between systems.

What it means for advice firms

Your clients get a better, cheaper platform service from someone they know and trust. You reap the rewards of an efficient system that you own and operate.

What it means for fintechs

Your clients get easy access to financial markets, through an experience you’ve designed. You get to bring your innovations to market quickly, cheaply and efficiently.

But while you don’t have to be big, you do have to be ready

Though operating a platform is easier and more affordable than ever, it won’t be right for everyone. Our introductory guide explains the key considerations and responsibilities.

Who does what?

Knowing where our responsibilities end and yours begin can get a little tricky. We’ve given a summary snapshot below.

What's the task? Who's responsible?
    • Client setup Seccl Platform operator P/O
      • Initial KYC - AML, PEP & sanctions screening.
      • Ongoing PEP/sanctions screening and suspicious activity monitoring.
      • Templated terms and policies.
      • Distribution and agreement of final client terms and key policies.
    • Client servicing Seccl Platform operator P/O
      • Adviser and client servicing – calls, messages, queries and questions.
      • Risk profiling, suitability and recommendations.
      • Asset selection.
      • Asset pricing and fund data – including MIFID costs and charges.
      • Distribution of fund data, KIIDs and risk warnings to client.
      • Data required for key documents (contract notes; valuations; CTVs etc).
      • Distribution of key documents to clients.
    • Transfers Seccl Platform operator P/O
      • Instruction of cash or in-specie transfers.
      • Facilitation and reporting of cash or in-specie transfers (via integrations).
    • Cash management Seccl Platform operator P/O
      • Core cash management services.
      • Client bank account.
      • BACS payments & withdrawal processing.
      • Dividend reconciliation and processing.
      • Corporate actions.
      • Presentation and processing of adviser fees and remuneration.
      • Distribution of adviser firm fees.
      • Intra-account movements.
    • Trading and settlement Seccl Platform operator P/O
      • Fund manager administration.
      • Settlement via CREST and Calastone.
      • Order execution.
      • Model creation, linking, maintenance and rebalancing.
    • Reporting Seccl Platform operator P/O
      • MI reporting dashboard – including charging.
      • Regulatory reporting data and alerts (e.g. communication to DFM of 10% drop).
      • Fulfilment of any onward required regulatory reporting (e.g. communication to adviser of 10% drop).
      • Gabriel returns.
      • Data controller’s ICO & GDPR responsibilities.
    • Product provision and governance Seccl Platform operator P/O
      • ISA manager.
      • SIPP provision (via Gaudi).
      • Ongoing governance and review of wrappers, products and instruments, in accordance with PROD.
    • Client comms and marketing Seccl Platform operator P/O
      • Communication infrastructure (comms hub; recommendation tool; chat funcionality etc).
      • Client communications and promotions.
    • Ongoing support Seccl Platform operator P/O
      • Day-to-day system support to users (e.g. password resets).
      • System fixes and functionality updates.
    • Compliance and audit Seccl Platform operator P/O
      • Audit and due diligence on platform operator’s AML/KYC.
      • Client-specific platform suitability – and governance of outsourced platform services.

Want more detail?

Head to our FAQ to learn more and find key due diligence info

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