The choice of Acordias followed an “extensive review” of the companies operating in the international platform space, FEIFA chief executive Paul Stanfield said.
As part of the arrangement, FEIFA members’ clients will be eligible for reduced account charges, according to Acordias chief executive
Andrew Wilkins, which, he said, will be based on the total FEIFA-member assets under administration that are held on the Acordias platform.
FEIFA said the decision to choose a “preferred” platform provider was taken last Spetember, and had been driven by demand from its members, who were uncertain about what to look for in a platform provider, and wary of choosing the wrong one. Stanfield and Guardian Wealth Management chief executive David Howell headed up the research effort.
Early on in the process, after consulting FEIFA members, it became clear that “one solution was unlikely to meet everyone’s needs, and thus we needed to find the platform that met the widest range of requirements in the most relevant manner”, Stanfield said.
“We deliberately took our time over this process, communicating with and meeting many platform providers before analysing the proposals submitted,” he added.
“In the end, the Acordias platform solution was the most impressive, and ticked more of the boxes than any other. Its future plans are also very relevant for international advisers.
“We were thus very happy to extend the preferred partnership arrangement to Acordias – and very pleased to have arranged exclusive benefits for our membership.”
Acordias was founded in 2010 by Wilkins and some other investors whose background was in international financial services. It makes use of platform technology provided by Moventum.