Mattioli Woods recruits former Cofunds head in platform drive

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Mattioli Woods has recruited former Cofunds head of distribution development Ed Carey to lead a restructure of its pension administration business City Trustees.

Mattioli Woods sales and marketing director Murray Smith says Carey will join the firm later this month and will be tasked with driving through improvements to City Trustees’ proposition.

He says the changes, which will include a rebrand, will see City Trustees function in a similar way to a platform.

Smith says: “Ed brings with him an expertise around platforms and he will be helping us to improve the functionality of the interaction between City Trustees and its IFA connections.

“City Trustees will look a lot more like a platform as we move forward, although it will not forget its roots as a Sipp and Ssas provider.

“It may in time look quite different and it will offer more sophisticated product design and implementation for intermediaries to help them put together investment propositions for clients.

“That is likely to include things like DFMs, structured products and property-based solutions.”

Smith says the rebrand and relaunch of City Trustees is likely to take place in the first quarter of 2014.

Mattioli Woods bought City Trustees, a Sipp and Ssas administration specialist, from Lighthouse for £1.85m in August 2010.

The Platforum head of platforms relations Freddie Findlater says: “The platform market is already very crowded so Mattioli Woods will need to be absolutely clear about why advisers should choose it over other more established providers.”