Wrap Platform reaches its tenth anniversary

By Simon Ewings Posted 9 January 2019

Investment Platform reaches its tenth anniversary

In January 2009, Monahans Wealth Management launched a new service to its clients in conjunction with the investment company Standard Life, using what was then considered ground breaking technology, known as a ‘WRAP’ investment platform.

At that time, few firms in the UK were using platform technology within the advice industry – MWM were an early adopter of what has now become the standard way in which financial advice firms deliver their services to clients.  Latest statistics show that in excess of 90% of all new retail investments are now managed via a ‘WRAP’ platform.  

In reaching this anniversary, Standard Life said - “It is testament to the hard work and professionalism of all the staff at Monahans Wealth Management that the assets under advice on the MWM Wrap platform stand at £350m and the firm continues to drive forwards at a pace”.

Simon Ewings, Managing Director of MWM added “In addition to our people, a large part of our success is down to the early integration of WRAP technology within the business.  The WRAP platform is a great example of using technology to do some of the ‘heavy lifting’ within a business, allowing us to spend more time on those services on which clients place greater value, such as the financial planning. 

I still see other advice businesses who were late in adopting WRAP technology get overburdened with the administration of financial advice.  However, those businesses who have been running WRAP technology from an early stage are now reaping the rewards in terms of the service they can now deliver to clients”.

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Client testimonial

After selling our business we needed professional advice to ensure our finances were structured in the best way possible, providing us with a retirement income to see us through the next phase of our lives. With all the noise and complexity around personal finance we decided to work with Simon Ewings and the team at Monahans Wealth Management. As a result of Simon’s professional help we quickly gained confidence and felt less overwhelmed. It is very useful having a dedicated financial adviser whom we can contact at any time to answer questions we have along the way.

Mr & Mrs Hall