The emergence of workplace advice delivered through platform technology or ‘Corporate Wrap’ as it is becoming known, is an obvious next step for the employee marketplace and will deepen employer/employee relationship and staff retention.

Intermediary focused Wraps and Fund Platforms have successfully demonstrated the concept of open architecture across multiple tax wrappers, the unbundling of product charges and provided an alternative vehicle to deliver high-touch advice to the consumer.  However, it can be argued the main benefits go to the Adviser through administration efficiency, cost savings and ongoing asset based income streams over time.

Corporate wraps and workplace platforms will turn this concept on its head and put the employee/consumer in a more favorable position - with the technology solution and provider proposition focused primarily on their needs, packaged by the employer accordingly.

With the inclusion of Composer to your existing Employer Benefits Solutions, employees can have access to investment benefits wider than just the company pension scheme, with a  complete Wealth Management Package including arrangements such as  bonus, salary, share save, ISA and direct investments  in place.

With ComposerWeb, an employee will be able log in via intranet or internet, and see their Wealth Management Package (pension scheme, ISA, PEP, share save, Bonds, SIPP) alongside other employee benefits (death in service, health care, income protection, etc).

Other non-platform products such as previous employer schemes can also be reflected for valuation purposes or transferred to the platform if appropriate. The employee can then transact/switch into a range of investments which have been ‘approved’ by the company for the pension scheme, and/or be given a wider choice for other tax wrappers.

Composers rich functionality and robust and adaptable user and account hierarchy, can facilitate the different relationships involved and provide appropriate segmentation of personal and financial information, securely and compliantly.  

Composer’s corporate functionality has been implemented in a number of large clients.

For more information, please contact us at uksales@infocomp.com