Financial services technology firm Ascentric has moved to larger premises in Bath after outgrowing its previous base.
The firm, a subsidiary of Royal London Insurance and which has more than £3bn of clients’ funds under management, was launched in 2006.
It has grown rapidly over the past two years and now employs more than 200 people.
The expansion has prompted the move from its original Palace Mews base off Charlotte Street to the 27,000 sq ft former Council offices in Trimbridge House, Trim Street, in the city centre, which have been refurbished to Ascentric’s specific requirements and to allow for additional expansion.
Managing director Hugo Thorman said the new offices would provide a much more practical and efficient environment for the firm.
He added: “We also refreshed our branding to reflect clearly the sophistication of our IT infrastructure and the nature of our business.
“This will help position the business for the many exciting opportunities we expect to see. I believe that there are personal sector financial assets of about £3.6 trillion and potentially in excess of £2 trillion could be placed on systems such as ours for the benefit of financial advisers and their clients.
“So the future for us is a very exciting one and everyone working with us in Bath.”
Ascentric’s Wrap products is used extensively by independent financial advisers (IFAs) and allow clients and their advisers to view all their investments and up-to-date values at any time via the internet.
It supplies more than 2,000 IFAs across the UK.
The new offices were opened by Bath MP Don Foster, who said: “Ascentric has become an important employer in Bath over a relatively short period of time and it is tremendous news that the business is staying right in the city’s centre.”
