Equisoft Transfer

A year in review: UK Electronic Investment Transfers Market 2021

389 live counterparties enable electronic account/portfolio transfers and re-registrations as of the end of 2021.

As of the end of 2021, the wealth and investment management value chain had 389 live counterparties facilitating electronic account/portfolio transfers and re-registration. The amount of electronic transactions continues to increase, with the second half of 2021 being 14% larger than the corresponding time in 2020.

Market Coverage

Big brands from the Wealth Management and Pension Providers industry areas are new participants.

The primary market segments' coverage is summed up as follows:

Support for open standards-based electronic transfers and re-registration is provided by 27 adviser platforms (99.4% of AUA).

  • Each of the top 20 Adviser Platforms support electronic transfers.
  • 19 Adviser Platforms (or 64% of AUA) use Equisoft/transfer

Open standards-based electronic transfers and re-registration are supported by 35 D2C Platforms and Execution Only Brokers.

  • All the top 10 D2C providers support electronic Transfers.
  • 30 use Equisoft/transfer

Support for open standards-based electronic transfers and re-registration is expressed by 77 wealth managers and private clients.

  • 73 use Equisoft/transfer .

29 White Label/Family Office/Charities support electronic transfers and re-registration based on open standards.

  • 24 use Equisoft/transfer.

8 Custodians/Intermediate Unit Holders support electronic transfers and re-registration based on open standards.

  • 6 use Equisoft/transfer.

183 Fund Managers support re-registration and open standards-based electronic transfers.

  • Representing 94% of UK Retail Funds by FUM
  • 40 (or 52% by FUM) use Equisoft/transfer.

26 Pension Providers support electronic transfers and re-registration based on open standards.

  • 18 use Equisoft/transfer.

What can we anticipate in 2022?

The big revision to the TeX/UKETRG transfers standards, which will go into effect at the end of June, is the key focus for both current participants and new ones. This upgrade, which was originally intended for October 2021 but was moved, increases the number of sites of settlement from 2 to 13, greatly expanding the variety of asset classes that can be re-registered electronically. Additionally, it features improvements to the pension transfers, support for share class conversion, and support for Lifetime ISA and Innovative Finance ISA transfers.

Everyone in the market will profit from these big improvements, but participants must take the necessary precautions to prevent any disruptions to their automated transfer procedures.

Read about the status of the investment transfer market in 2023.

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