Allfunds Bank’s worldwide asset under administration (AuA) have reached GBP100bn as the latest Channel Islands’ client, BWCI, is taken on board by Stephen Mohan’s new UK management team.
BWCI is the largest group of actuaries and consultants in the Channel Islands. The business also provides its ‘Blue Riband’ range of retirement solutions.
For Allfunds Bank UK and its new team, BWCI represents a significant step in its plans to offer wealth managers its low cost administration platform. Mohan, appointed last year, is targeting the Allfunds institutional platform at firms engaged in supporting or performing wealth management business. It is focused on providing all aspects of funds administration; trading, settlement, custody and information.
Stephen Ainsworth, senior partner at BWCI, says: “We are delighted to have teamed up with Allfunds. The new funds platform will benefit both existing and new clients. This is a very positive development for BWCI and supports our continued growth in providing corporate retirement solutions for Channel Islands and International employers."
Mohan says: “BWCI is one of a growing number of high quality firms who are interested in our ability to reduce their operating costs and risks in fund selection and administration. We are naturally delighted to welcome BWCI into a business which has over 400 wealth management partners around the world.”