Punter Southall Aspire appoints online technology provider Quai as administrator for its forthcoming master trust
Punter Southall Aspire has selected Quai Administration Services as the out-sourced investment administrator for its forthcoming Master Trust. The firm has also made a strategic investment in Quai, as it continues its approach of taking stakes in service provider partners, rather than just relying on transactional relationships.
Punter Southall Aspire will work with Quai to build a bespoke technology solution and service for its master trust members over the coming months. The Quai business was founded in 2011 by Tony Webb and Iain Willis, who spotted a gap in the market for a cost-effective, digitally-focused administration and online delivery solution. They bring with them significant experience in designing digital solutions for savings and investment products, based in part on previous experience working for Legal & General and Brewin Dolphin.
This latest announcement is part of Punter Southall Aspire’s progress to build a fully integrated workplace saving offer, encompassing employee engagement, financial education, and an advanced investment administration choice. It builds on the recent launch of the firm’s online-based employee engagement service, and an investment in specialist branding and communications agency, Future Kings.
The Quai deal also reflects Punter Southall Aspire’s philosophy that relationships with suppliers should be about more than just service provision. By taking a stake in the business, the firm will retain influence over the development of the service, and be able to tailor it for clients.
Steve Butler, Chief Executive of Punter Southall Aspire said, “When it comes to investment administration, we don’t just want an off-the-shelf product. Buying a stake in Quai means we can have a say in the design of the service, making sure it is best in class and tailored to our clients’ needs.
“Quai is a young, dynamic company offering end-to-end online journeys where possible. Set up five years ago, the business is free from outdated technology, meaning it can deliver the best possible service to our clients. This investment is another significant step in building our suite of services, ahead of launching our master trust in 2017.”
Iain Willis, Business Development Director of Quai said, “Outsourced administration is a growing area that is poorly served at present. Punter Southall Aspire has taken a strong stance on this, staying ahead of the game by opting for a young business that puts digital technology and efficiency at the core of its operations.
“We’re looking forward to developing our relationship with Steve and his team, providing an efficient service that allows the company to focus efforts on growing the business.”
See the full press release on the Punter Southall website here.