Acquisition of £16bn Assets Under Administration (AUM) business
Our role included 3rd party due diligence, negotiation, creation of TSA, and separation of business/platform for stand-up at our client
Assistance to Integrate Acquired Wealth Platform into Technology Estate
Our client is a wealth platform for IFAs, with £16bn of assets under administration (AUM) business within the Royal London Group (RL). Our client purchased the business outright in 2017 and services were provided by RL under a Technical Services Agreement (TSA) until the business and platform was migrated in house.
Our client needed to be able to understand the complex IT infrastructure and ensure effective planning and implementation was applied, in order to achieve optimal value from the separation process.
They also sought to design and implement the new model, where eventually Caesar would be fully standalone by the end of the TSA period.
They required expertise across the Migration activities which included:
- Performing acquisition 3rd party due diligence, negotiation and creation of TSA.
- Separation of business/ platform and management of exit readiness
- Management of the migration and stand-up in house
- Cost management definition and tracking
Effective Governance of complex acquisition
In order to achieve a seamless acquisition, we partnered with our client to provide expert oversight, dedicated project management, and PMO resources throughout the duration of the project.
Finyx assisted across a number of programme workstreams, including:
Technology Separation
- 3rd party due diligence and creation of the TSA, detailing services to be provided
- Contractual management and engagement with commercial and procurement
- Ensuring governance, alignment and adherence with various forums and committees, and document creation
- Cost management including: production of financial, budget tracking, and variance reporting artefacts
- Overseeing separation milestones and evidence verification
Sales, Marketing & Proposition
- Front office analytics separation and managing decommission activity in line with internal handbooks and frameworks
Migration Oversight & Management
- From non-Royal London business applications to our client’s domains and laptops, service onboarding and access management in line with their security standards
Governance
- Activity planning, including dependency tracking across workstreams
- Applying effective change control processes, risk/issue management, and providing project management/PMO resources
Successful Delivery of TSA and Migration for RLG
The TSA was delivered on time, and the migration to the client was achieved successfully. This inlcudes frictionless Integration of the retail platform, with assets of £16bn under management (AUM), enabling the acquirer to gain access to new target retail and institutional markets.
As well as increasing the size of the AUM book, the platform introduced faster and cheaper access to the choice of funds for the customers. Further, this deal provided the trigger for optimising the sourcing and operating model strategy along the customer journeys.
Since deal completion, and due to its success, a number of Finyx resources have been redeployed into other projects at the same client.