GBST, a prominent global wealth management and advice solution provider, recently reported a significant milestone: UK assets managed on its Composer Wealth Management Platform have surged past the £200 billion mark. As of September 2024, Composer witnessed an 18% year-over-year increase, reaching a total of £205 billion with nearly 4 million active accounts. This astonishing growth can be attributed to the enduring success of long-standing UK clients as well as the addition of new clients to the platform.
This remarkable expansion clearly underscores the effectiveness of GBST’s strategic initiatives, which include a substantial investment in advancing Composer to a modern cloud-based technology. Additionally, GBST’s partnership with Wipro for business process outsourcing has enhanced their overall service offering. According to David Simpson, GBST’s Head of EMEA, this milestone not only exemplifies Composer’s competitiveness but also highlights how it aids investment platforms and pension providers in expanding, increasing efficiency, ensuring compliance, and cutting technology costs.
Simpson further credited GBST’s enduring client relationships and continuous technological innovation as crucial factors behind this achievement. The strategic collaboration with Wipro has been highlighted as an essential element that augments GBST’s services, making the company an appealing choice for wealth management organizations seeking comprehensive administration solutions. This development has further solidified GBST’s leading position within the wealth management technology sector, emphasizing their focus on consistent growth and technological evolution.