Schroders Personal Wealth (SPW), the wealth management arm of the UK-based asset manager Schroders, has announced plans to launch its platform later this year.

In addition, SPW will also release an app for clients in the second quarter of the year.

According to SPW, the move is a “key strategic development” that will enable it to “bring the control and oversight of client money and investments, in-house”.

Funds services firms SEI and Benchmark will continue to provide technology and fund administration to the platform.

However, a new business model will mean that SPW becomes the regulated operator of the platform and the registered custodian, subject to FCA approval.

“Going forward, clients will only hear from one brand, instead of three, and will have an enhanced experience through better integrated technology,” said Graham Bastin, chief technology officer at SPW.

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