Pension software vendor DSTi has bought wrap platform specialist PAS in a bid to improve its technology systems to deal with new pension products.
PAS’s software is used by over 50% of the UK IFA community, as well as several major banks and insurers. DSTi says the acquisition of PAS is intended to boost its front end offering to IFAs.
PAS’s services will aid in the calculation of wrap and SIPP products, providing quotations and offering illustrations useful to consumers.
PAS pension calculations including its Simplification Planner are being included in DSTi’s new SIPP administration solutions. The SIPP system can be stand alone or part of the Wrap platform, Tim Rudlin, product director at DSTi, was quoted as saying.
The price of the transaction was not disclosed.