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Alliance Trust Savings chooses Altus for re-registration process
It has also signed up for the industry body Tax Incentivised Savings Association TEX agreement. This will help the re-registration of assets to agreed standards between participating members.
Alliance Trust Savings hopes these changes will allow clients to transfer assets without being out of the market for a long period.
Although the firm has been offering re-registration for several years, the RDR has prompted it to offer a more efficient service. The new service will now mean transfers take within five to six working days.
The firm said requests to transfer assets to Alliance Trust Savings increased by 40 per cent in the first quarter of 2013.
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Elaine Maddison, proposition and service director, said: "We are delighted to be partnering with Altus to automate our existing fund re-registration process. Altus' understanding of our business and their desire to help us improve our service proposition for our customers was the decisive factor."
Ben Cocks, product director at Altus, said: "It is really important to see such a key player in the investment industry as Alliance Trust Savings embrace open standard based transfers and re-registrations.
"It is further evidence of the momentum behind automated transfers processing which is good news for the industry and will ultimately deliver better outcomes for consumers."