Allfunds Bank remains the largest Fund Distribution Platform in Europe with over quarter of trillion Euros of assets under administration (AUA) and appears significantly ahead of its rivals, according to a leading funds distribution report out this week.*
The Report shows that Allfunds Bank has beaten its rivals in three out of four key measures in a survey of 110 senior figures in distribution, sales and business development roles within asset management businesses across Europe. The Report’s survey found that Allfunds was the “best platform” for:
• MiFID II compliance services
• Distribution potential
• Efficiency in on‐boarding funds
According to the Report’s survey, Allfunds Bank again leads the way with the most potential for expanding the distribution of a fund management firm, as its enormous scale provides access to a distribution network of more than 530 financial institutions across 38 countries.
The Report said that it was aware that the process of on‐boarding funds from fund groups onto platforms could be onerous, “requiring significant resources to deal with the bureaucracy it involves.” It also said that Allfunds was the “most efficient” when on‐boarding funds onto a platform.
Allfunds is involved in a continuous enhancement process of its platform and services, aiming to offer state of the art technology and added value solutions. Important in this regard, have been the investments made in services to help financial distributors dealing with the imminent and challenging arrival of new regulation such as MiFID II, Solvency II or PRIIPs; such services are addressed to ensure that the distribution process is fully compliant with the new rules. The platform has, according to the industry, a clear competitive advantage in this regard and it is multiplying efforts, launching new initiatives and technological solutions aiming to provide bespoke services under the new regulatory framework.
As per the Report’s survey, fund providers highlighted Allfunds’ ‘transparency and pro-activeness’, its ‘good MI, open cooperation and proactive communication’, as well as its ‘strong engagement with industry representatives’ when asked about MiFID II compliance services.
Allfunds Bank CEO Juan Alcaraz said,
“The open architecture model, which provides consumers with the widest fund choice possible, is proving ever more attractive to a wider range of wealth and asset managers across Europe. And with Mifid II on the near horizon, we are working to enable our clients to use the best suite of services available in the market, services that meet their requirements, simplifying access to distribution, minimizing risks and increasing efficiency, justifying our role as main partner in open architecture solutions.
“In the UK, our business is thriving with a very strong pipeline and so I was delighted that this important Report reveals that Allfunds Bank is now perceived to be ‘dominant’ in terms of the service we provide to our UK wealth and asset management clients.”
*‘European Fund Distribution: Leading Platforms,’ Platforum, March 2017