Delivering the next generation platform

Wealthtime is partnering with Wipro, a leading technology services and consulting company and its global technology partner GBST to deliver a market-leading, digital-first platform and innovative customer-centric service offering. The Wealthtime and Wealthtime Classic platforms will be brought together under the Wealthtime brand on a single, significantly enhanced platform, powered by the latest version of GBST technology. At the same time, the group’s Operations and Technology & Change functions will transfer to Wipro’s dedicated UK centre of excellence for business processing, based in the Southwest area.

There will be no immediate change for advisers and their clients using the Wealthtime or Wealthtime Classic platforms and there’s no action to take.

The Wealthtime platform will undergo an accelerated platform update in 2025. There is no fixed date for the transfer of Wealthtime Classic customers to the enhanced Wealthtime platform, we will advise a date in due course. Our focus will be on the quality of client transfer and customer experience, rather than speed.

We will shortly be starting a consultation with colleagues in roles likely to transfer to Wipro. Currently, the planned date for the transfer of operations is 1 February 2025.

This deal will fundamentally transform our platform and service offering for advisers and their clients over the medium and long term. Our existing relationship with GBST will allow us to fast-track our proposition development through an accelerated platform update, delivering market-leading technology that underpins our future strategy. While Wipro’s proven operational expertise across multiple sectors, including financial services, will bring new insights to the platform space, helping us create a best-in-class experience for our customers.

Wipro’s commitment to building a centre of excellence in the UK based around Wealthtime’s Operations and Technology functions will ensure that advisers continue to work with their existing contacts, backed by greater automation and innovation. We know that advisers are best served by exceptional people supported by world-class technology. The new agreement allows us to focus on our strengths as we grow our business while ensuring that we continue to meet the future needs of advisers and their clients, with the latest technology and excellent service standards.

The enhanced platform will deliver the latest automated processes and market-leading functionality, as well as seamless integration with Wipro’s advanced technologies and AI capabilities.

We will leverage Wipro’s advanced technology and substantial IT and AI experience to continually improve service standards and front-end applications. Platform users will benefit from a significant update to the Adviser and Investor Zones, alongside a streamlined service provision.

The platform will continue to be customised to Wealthtime’s proposition to support its growth and strategic approach, with ongoing development in response to user needs.

Following the transfer of clients, Wealthtime Classic customers will benefit from an enhanced platform which will have a wide scope of functionality.

GBST has recently completed a multi-million-pound transformation of its operating system, Composer, to create a secure, scalable market-leading wealth administration platform. The Wealthtime platform enhancement will enable the delivery of significant new functionality.

The model of financial advice is evolving and we must make the right strategic decisions to position our business for growth while ensuring that we continue to meet the needs of advisers and their clients now and in the future.

We explored several options and are confident that this partnership offers the best solution for our customers, our staff and our business. We can now fast-track delivery of a significant platform update on GBST’s market-leading technology.

We explored several different options, and this partnership offers the best solution for our customers, our staff and our business. It allows us to fast-track delivery of a significant platform update on GBST’s market-leading technology, while Wipro will create a centre of excellence around the current Wealthtime team. The agreement allows us to focus on our strengths while delivering enhanced platform technology and excellent customer service support with minimal change for advisers and their clients.

Wipro and GBST have an existing global partnership and joint co-delivery model for end-to-end platform services that is already in operation with other clients. This allows us to benefit from each company’s proven expertise while leveraging their established relationship and continuing to work closely with our existing contacts at GBST.

Wipro is a world-leading provider of next-generation technology and business process services. It employs 5,000 people in the UK.

It already has a dedicated Operations Centre in the Southwest and is committed to expanding this area as a strategic base to enhance its UK wealth management capability, creating a UK centre of excellence built around the current Wealthtime team.

Globally, Wipro has over 230,000 employees in 65 countries working across a wide spectrum of industries including banking, financial services & insurance; consumer; health; energy, natural resources & utilities; technology; manufacturing; and communications sectors. It generated over $11bn in revenues last year. Wipro’s proven operational expertise across multiple sectors will bring new insights to the platform space, helping us create a best-in-class experience for our customers.

There will be no immediate changes.

The group’s Operations and Technology functions will transfer to Wipro through a Transfer of Undertakings (Protection of Employment) (TUPE) process and we will shortly be starting a consultation with colleagues in roles likely to transfer.

Wipro currently has a dedicated Operations Centre in the Southwest and is committed to expanding this to create a UK centre of excellence built around the current Wealthtime team to enhance their UK wealth management servicing capability.

Our customer contact service, key account and relatrionship manager roles will stay with Wealthtime to ensure we retain control over the adviser and client experience. We anticipate expanding these areas in time to ensure we provide the very best support for our users.

In line with our long-term strategy, we continue to explore opportunities that allow us to build scale and enhance our organic growth. This includes acquisitions that will benefit our customers as well as support our business ambitions.

This deal will fundamentally transform our platform and service offering for advisers and their clients over the medium and long term. Our existing relationship with GBST will allow us to fast-track our proposition development through an accelerated platform update, delivering market-leading technology that underpins our future strategy. While Wipro’s proven operational expertise across multiple sectors, including financial services, will bring new insights to the platform space, helping us create a best-in-class experience for our customers.

The agreement allows Wealthtime to scale our business more quickly to realise our growth ambitions.

Partnering with GBST and Wipro puts our operational service and technology in expert hands, positioning us for growth by allowing us to focus on our strengths while ensuring that we continue to meet the evolving needs of advisers and their clients over the long term.

There will be no immediate change for advisers and their clients using the Wealthtime or Wealthtime Classic platforms and there’s no action to take.

The new agreement ensures the continuity of both our underlying technology partnership for Wealthtime, and enhances the technology for Wealthtime Classic. The operational staff that advisers deal with day to day are not expected to change. Regular contacts will remain the same and users will also benefit from Wipro’s advanced technology and substantial IT and AI experience.

Wealthtime will retain control of the customer and adviser experience, allowing us to focus on building even stronger relationships and partnerships with advisers which will deliver better long-term customer outcomes.

We will give constant updates and will actively look for feedback to help us transform our platform and service.

The proposal is that Operations and Technology & Change functions, across both platforms, will transfer employment to Wipro through a Transfer of Undertakings (Protection of Employment) (TUPE) process. Wipro is committed to building a UK centre of excellence for business processing around the transferring Wealthtime team.

One of the key advantages of the agreement with Wipro is that the transferring Wealthtime team will continue working on Wealthtime and Wealthtime Classic systems and processes. Advisers will continue to deal with their regular contacts, while also benefiting from Wipro’s advanced technology and substantial IT and AI experience to continually improve service standards.

Platform functionality developed and supported by Wipro-GBST will be customised to our proposition, our long-term growth ambitions, and our strategic approach. We will also continue to differentiate the business through our sales approach, key account support, our pricing, joint ventures with partners such as Just and Wesleyan, improved technical, tax, and trust support, continued thought leadership support, and customer servicing support.

And we will continue to develop the platform in response to customer needs, working closely with advisers to ensure the long-term strategic interests of our customers are always our priority.

Advisers and their clients will benefit from a significantly enhanced platform that delivers the latest automated processes and seamless functionality.

Wealthtime users will not have to transfer to a new platform. We will complete an accelerated programme to update the Wealthtime platform in 2025 delivering significantly enhanced platform functionality based on GBST’s market-leading technology and new front end AI capabilities provided by Wipro.

GBST has extensive experience in delivering platform enhancements for regulated financial institutions. Further details of the update programme will be communicated to advisers nearer the time.

The Wealthtime and Wealthtime Classic platforms will be brought together as a single Wealthtime brand on a significantly enhanced platform powered by GBST technology.

There will be no immediate change to service for advisers and their clients using the Wealthtime Classic platform and there’s no action to take. The Wealthtime platform will undergo an accelerated platform update in 2025. We will then transfer Wealthtime Classic customers to the enhanced Wealthtime platform. Our focus will be on the quality of the transfer and customer experience, rather than speed.

The existing Wealthtime Classic platform will continue to operate as usual until the transfer of assets is complete after which the platform will be retired.

We will give constant updates and will actively look for feedback to help us transform our platform and service.

Advisers and their clients will benefit from a significantly enhanced platform that delivers the latest automated processes and seamless functionality. Following the transfer of clients, Wealthtime Classic users will enjoy extensive additional functionality including multi models; automated family linking and fully online Drawdown, as well as a wider range of investments including equities, structured products, SLI Guaranteed Income and With Profits funds.

Users will also see a significant enhancement to the Adviser and Investor Zones, alongside a streamlined service provision.

Once we have completed the Wealthtime platform enhancement, we will transfer Wealthtime Classic clients to the Wealthtime platform.

There is no fixed date for this yet. Our focus will be on the quality of the client transfer and customer experience, rather than speed. We will put in place a specific communications programme for the Wealthtime Classic transfer nearer the time, including any blackout periods and actions the Wealthtime Classic advisers or customers need to take.

Once transferred Wealthtime Classic users will enjoy significantly enhanced platform functionality based on GBST’s market-leading technology and seamless integration with Wipro’s advanced technologies and AI capabilities.

The existing Wealthtime Classic platform will continue to operate as usual until the transfer of assets is complete.

GBST has extensive experience in delivering platform transfers for regulated financial institutions.

We will update advisers on this nearer the time of the Wealthtime Classic transfer. Our focus will be on the quality of the client transfer and customer experience, rather than speed.

We will update advisers on this nearer the time.

GBST has extensive experience in delivering platform transfers for regulated financial institutions. We will update advisers regularly as we progress the platform update and put in place a specific communications programme for the Wealthtime Classic client transfer nearer the time, including any blackout periods and actions the Classic advisers or customers need to take.

Further details will be communicated to advisers nearer the time.

There will be no immediate change to service for advisers and their clients using the Wealthtime Classic platform and there’s no action to take.

As part of the client transfer readiness we will be in touch to let you know of any steps you need to take and give you regular updates on progress and next steps. We will have a dedicated team to support advisers and their clients and will work with Wipro and GBST to ensure a smooth transfer of assets.

GBST has extensive experience in delivering successful platform transfers for regulated financial institutions.

There is no immediate change for clients. Over the next few months, advisers and their clients will benefit from a significantly enhanced platform that delivers the latest automated processes and seamless functionality, including automated family linking, fully online drawdown and multi-models, alongside existing bespoke capabilities to support the entire advice journey and deliver better long-term customer outcomes.

The Wealthtime platform will undergo an accelerated platform enhancements throughout 2025 and will benefit from continued updates.

There is no fixed date for the transfer of Wealthtime Classic customers to the updated Wealthtime platform. Our focus will be on the quality of the client transfer and customer experience, rather than speed.

We will update advisers regularly as we progress the platform update. We will put in place a specific communications programme for the Wealthtime Classic transfer nearer the time, including any blackout periods and actions the Classic advisers or customers need to take.

The proposal is that Operations and Technology & Change functions, across both platforms, will continue working on Wealthtime and Wealthtime Classic systems and processes but will transfer employment to Wipro through a Transfer of Undertakings (Protection of Employment) (TUPE) process. Wipro is committed to building a UK centre of excellence for business processing around the transferring Wealthtime team, based in the Southwest area.

We will shortly begin a consultation with colleagues in roles likely to transfer to Wipro.

There are currently no planned changes in location and on day one of the transfer, which is expected to be from 1 February 2025, those transferring will continue to work in the same office, doing the same role, working for Wipro.

Wipro currently has a dedicated Operations Centre in the Southwest and is committed to expanding this as a long-term strategic base to enhance its UK wealth management servicing capability. It intends to create a UK centre of excellence in this area, built around current Wealthtime Operations and Technology & Change team members, offering transferring colleagues exciting long-term career prospects in the region.

Wealthtime has a long history in the Southwest of England and we remain committed to the region.

Wipro has ambitious growth plans in this market and intends to create a UK centre of excellence in the Southwest area, built around current Wealthtime operations and technology team members, offering transferring colleagues exciting long-term career prospects in the region.