Investec Wealth takes on RDR stock transfer requirements

Stock transferInvestec Wealth & Investment is among firms attempting to speed up the process of transferring stocks between investors, partly to meet UK regulatory requirements under the Retail Distribution Review (RDR). The firm is aiming to complete stock transfers within a day. Across the industry stock transfers can take weeks, but the RDR has required the funds industry to have a faster overall process for transferring stock ownership. The firm has adopted an automated stock transfer product from Calastone. Calastone says other fund providers, including Rathbone Investment Management, have also started to employ its Transfer Service product to increase automation of transfers. As well as the RDR driver, Calastone says there is also demand for better facilitated transfers between nominee accounts. Ann Mosey, head of settlements at Investec Wealth & Investment, says operational efficiencies will be gained from the straight-through-processing offered by automation. “A key goal for us is to undertake and complete transfers for the majority of cases within a day, thus driving valuable operational and cost efficiencies.” ©2015 funds europe

Executive Interviews

INTERVIEW: Put your money where your mouth is

Jun 10, 2016

At Kempen Capital Management, they believe portfolio managers should invest in their own funds. David Stevenson talks to Lars Dijkstra, CIO of the €42 billion manager.

EXECUTIVE INTERVIEW: ‘Volatility is the name of the game’

May 13, 2016

Axa Investment Managers chief executive officer, Andrea Rossi, talks to David Stevenson about bringing all his firm’s subsidiaries under one name and the opportunities that a difficult market...


ROUNDTABLE: Beyond the hype

Oct 13, 2016

The use of smart beta investing continues to grow. Our panel, made up of both providers and users, discusses what the strategy actually means, how it should be used and the kind of pitfalls that may arise when using this innovative investment technique.

MIFID II ROUNDTABLE: Following the direction of travel

Sep 07, 2016

Fund management firms Aberdeen and HSBC Global meet with specialist providers to speak about how the industry is evolving towards MiFID II.