Allfunds, the B2B WealthTech platform for the funds industry, has partnered with Rathbones, the provider of individual wealth management and related services to private clients, advisors, charities, trustees and professional partners.
"Allfunds is to act as exclusive provider of funds dealing and distribution services to Rathbones Group", the platform said in a statement on 10 September.
The partnership gives Rathbones the ability to deal and trade products through a single portal, streamlining and improving the service for Rathbones’ clients. It was initiated in 2023, with Rathbones’ international subsidiary using Allfunds for funds dealing and distribution and benefitting from access to Allfunds’ universe of over 140,000 funds.
Building on the success of the initial migration to the Allfunds platform for Rathbones Investment Management International, the partnership has now evolved to also encompass the combined investment management business of Rathbones Group and Investec Wealth & Investment (UK) across both their international and UK-domestic investments.
Tom Wooders, regional head, UK and Ireland at Allfunds said: “We are delighted to act as a strategic partner to Rathbones. As a result of transformative shifts within the wealth management industry, it is crucial that companies have access to tools and solutions that enable a better and more efficient service for clients. We look forward to continuing our programme of close collaboration in the coming months.”
The partnership has contributed to Allfunds’ recent strong performance in the UK – a critical market for the global business – and has helped drive the company’s assets under administration (AuA), which surpassed €100bn in April 2024.
