National advice firm True Potential has terminated its relationship with technology partner SEI in order to control its own in-house platform.
True Potential said the move represented 'the next stage' in its long-term strategy of obtaining 'a deeper ownership of the value chain'.
The business revealed it had been working on its new platform since 2016, running two separate offerings in tandem 'to ensure accuracy of data flow'.
Daniel Harrison, senior partner at True Potential, said: 'This opens up powerful opportunities for the platform moving forward. It will allow us to use our award-winning technology expertise to meet the needs of today’s advisers and clients in the agile and forward-facing fashion we have become renowned for.
'It also allows us to harness new technologies to both future-proof our platform and boost our efficiency and reconciliation engines, giving all involved an accurate and expedient investment experience.'
Platform technology has been a thorny issue of late. In February this year Aviva Insurance chief executive Andy Briggs apologised for delays incurred in its own platform technology upgrade from provider OpenWealth to FNZ.