Cooper Parry Wealth partners with Seccl to power investment platform

The firm said to date, Cooper Parry Wealth has taken on more than 100 family groups and £160mn of assets to CP Accelerate, and expects to have around £300mn of assets on the platform by April 2024. 

It said its new platform will be one of the first to benefit from the enhanced Moneyinfo and Seccl integration, which launches in the next few months.

With the introduction of its in-house platform Cooper Parry Wealth said it aims to significantly improve client experience.

David Ferguson, chief executive officer of Seccl, the Octopus owned investment platform, said Cooper Parry’s rapidly scaling wealth business is “characteristically ambitious”.

“Across the advice industry, we're seeing more and more impressive, customer-centric firms grow frustrated with clunky platform processes and the pain they cause for advisers and their clients,” Ferguson said.

“We’re excited to track the positive impact of the new CP Accelerate platform, both on Cooper Parry Wealth’s own internal operations and on the overall experience their clients enjoy, and are delighted to be playing a part in this industry growth story.”

Marc Patterson-Mik, head of platform operations at Cooper Parry Wealth, said: “The decision to become our own platform provider was a natural one, as we strive to continually improve our clients’ digital experience and retain our high level of service throughout our growth journey.”

Patterson-Mik said the new set-up will help the firm to streamline its internal operations and provide opportunity for integration with other systems.

It will also provide future business transformation opportunities, either on the firm’s own mobile apps or the creation of bespoke client onboarding journeys.

The firm said since its launch, Cooper Parry’s in-house platform team has seen the average time to complete a client’s end-to-end transfer fall by a week, compared to other platforms. 

Due to the automation within the system, the same team is now able to handle the vast majority of platform-related queries on its own – allowing clients to see their queries resolved in record time. 

The ongoing platform charge will start from 0.15 per cent for the first £2mn, tiering down to 0.01 per cent for assets over £10mn. 

The average Cooper Parry Wealth client will save 0.05 per cent in platform charges by moving to CP Accelerate, if a transfer is deemed suitable.

“In our experience, development with legacy platforms is rarely a shared or inclusive exercise,” Patterson-Mik said.

“But by moving away from the existing retail platform model and working in close collaboration with a modern technology partner like Seccl, we have been able to take greater control over crucial parts of the investment journey and, ultimately, give our clients a better experience at a lower cost.”

sonia.rach@ft.com

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