Saving Generations Solutions: The Investment Manager

Saving Generations Solutions: The Investment Manager

Finding the right IT and services partner to launch into the competitive UK D2C platform market.

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Head of Insurance and Investment Management

KPMG in the UK

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The investment manager

The client

A major multi-asset Investment Manager headquartered in the US with assets under management of US$3 trillion (c. £2 trillion) and operating in 16 countries.

The challenge

The client had launched a highly successful direct-to-consumer (D2C) proposition in the US, opening up a powerful retail channel for its funds.

Keen to expand its presence Europe, it sought to develop a ground-breaking D2C digital-only platform into the UK. To allow the client to focus on its core expertise, the decision was made to outsource both IT and service components to a third-party platform supplier. Reflecting our decade of expertise in the UK platform market, KPMG was approached to facilitate the selection process.

The response

We brought together a team of specialists in platforms, IT and retail financial distribution to work with the client to ascertain their goals in terms of platform functionality, user experience, design and delivery.

Based on this, we drew up a long list of six potential suppliers and designed a Request for Proposal. We also provided the client with quantitative cost analysis showing the UK D2C market’s end-customer pricing and the operating costs of leading platform providers.

Through this analysis and interpreting the RFP responses, we were able to work with the client to steadily reduce the number of suitable suppliers. Through supplier presentations, intensive due diligence of contracting, operations, IT, regulation and implementation plus final evaluation workshops, the preferred supplier was identified.

The result

By working with KPMG, the client was able to gain a better understanding of its own requirements, the optimal functional and operating model, the likely overall cost of delivery and a complete understanding of supplier fees and charges. We were also able to make clear the regulatory and contractual risks in launching a D2C platform in the UK.

Having selected its preferred supplier, the client is due to launch on schedule.

KPMG Value

  • Vision: Helping the client to expand and develop its vision for what it wanted to deliver in the UK market.
  • Knowledge: Providing the client with robust analysis and insight into the UK platform pricing, costs, regulation and contractual requirements.
  • Time: Rapidly identifying a suitable long list of candidates based on our existing knowledge of the market.
  • Process: Facilitating RFPs, workshops and due diligence to enable all internal stakeholders to confidently agree on a preferred supplier.

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