The London-headquartered tech firm Ascentric is piloting a
white label execution-only platform allowing consumers to manage their own
investments online.

The Investor Direct offering gives investors the ability to
purchase ISAs, SIPPs and GIAs cheaply in addition to providing advisors with a
non-advice business that can help advisors maintain existing relationships with
clients.

Ascentric told WealthBriefing that as fee rates have been pushed up following the implementation of the Retail Distribution Review, more advisors are looking for new ways to service
lower-end clients without losing the relationship.

As such, the new service is aimed at lower value clients who
may not be willing to pay a fee for advice, but still want to remain with the
advisor firm in case they need advice later on. Therefore providing firms with
the opportunity to keep clients who might be tempted to “do it yourself” now
that advisor fees have risen. The platform could also attract new clients, potentially
creating a pipeline of clients who may need financial advice in the future.

The offering will be available through advisors’ websites
and will give customers access to a wide range of investments within the
product wrappers including OEICs, Unit Trusts, Investment Trusts, Equities and
ETFs, the firm said.

Ascentric also noted that the terms of Investor Direct clarify
to customers that the offering is a non-advice service.

In related news, the platform recently hit record new
business levels of £813 million in the first half of 2013, when the financial
powerhouse Royal London Group reported 
its interim results, including those of subsidiary Ascentric, in August.