Technology entrepreneurs, Stewart Foster and Pete Caddick, have today launched their start-up venture Step Fourth Ltd to the UK market.
The privately funded Birmingham based company is developing a suite of digital solutions designed for UK wealth managers, stockbrokers, consolidators, and platform providers.
Research conducted by Step Fourth has shown that the UK Wealth & Investment market dramatically lags other industries in the adoption of digital technology. Those products that are available lack innovation, are incomplete, need a high level of customisation and are prohibitively expensive to the majority of market participants.
To support the wealth and investment market, Step Fourth aims to be first to market with a new generation of client facing technologies that are functionality rich, out the box and available at a much lower price point.
The first of their new products, called Blue Nova, will allow investment companies to consolidate client data from multiple sources into a centrally managed, secure repository. Blue Nova will also enable firms to offer their advisors and end consumers a functionally rich digital engagement Portal providing a panoramic view of their investment world.
The company has been busy in its pre-launch phase. In April this year, Step Fourth acquired the assets of Birmingham based wealth management technology provider IMVS Ltd. In May, Wealth Management industry veteran, Paul Harris, was appointed Chairman, bringing his vast knowledge of industry expertise to Step Fourth.
''We believe that the current Digital offerings to the UK market lack innovation and do not provide what the market truly needs. Our vision is to once again build an affordable suite of award winning solutions that will set the benchmark for the wider sector and I could not be more thrilled to be embarking on this new journey’' Stewart Foster, Founder and CEO.
A demonstration of Blue Nova is available now and the product is expected to be ready for deployment in 2023.