Brewin Dolphin commits £35m to overhaul settlements technology

'Enrich client proposition'

Brewin Dolphin has earmarked £35m to invest in an infrastructure system that will replace its core custody and settlements system, after signing an agreement with software provider Avaloq UK.

The wealth manager, which manages around £34.9bn in assets, said in its results in November 2018 it was planning to upgrade the system, which the group said will "significantly enhance" its technology infrastructure. Avaloq's contract covers installation, ongoing support and maintenance over an initial ten-year period and is estimated to cost circa £35m. 'Growth remains at top of our agenda': Brewin's discretionary AUM grows to £34.3bn as inflows climb It is part of Brewin's plans to "enrich its services and client proposition". Grant Parkinson, COO of Brewin Dolphin, said: "We ...