Platform Securities Powers Lifetime ISAs for Clients 

Platform Securities, a provider of back office services and custody to wealth management businesses, is pleased to announce that it is now live supporting a Lifetime ISA product for clients.  

Take up of the Lifetime ISA was famously tepid in the beginning, with only three providers offering the product when it was launched earlier this year, due to the operational complexities involved . As a result, most wealth management businesses still do not have a Lifetime ISA as part of their offering to clients. Platform Securities’ clients, who include stockbrokers, wealth managers, private banks and investment platforms, can now offer their clients a way to take advantage of the government’s savings bonus.

Platform Securities can now support Lifetime ISAs alongside the currently offered ISA suite, which has included Junior ISAs since their introduction in 2011 and Flexible ISAs since 2016. These can be managed alongside a client’s GIA and pension through one system, with model portfolios applied across multiple accounts. Client statements can then be produced to cover a client’s multiple underlying accounts.

Platform Securities provides a comprehensive software and process back office infrastructure for stockbrokers, Platforms, wealth managers and private banks. Clients of Platform Securities are able to offer their own investment accounts out to their clients, whilst relying on Platform Securities to carry out the vital custody and client money operations.

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