The pain of losing most of his paper fortune has been eased somewhat for Bravura Solutions CEO Iain Dunstan, with a watershed UK wrap administration win and an Australian environment where “;every single funds manager is reviewing their systems”;.

Dunstan said the deal by which BPO provider Scottish Friendly will use Bravura’s wrap solution to be administrator and unit registrar for the Norwich Union Lifetime wrap would be worth $10 million over the initial licence period. The deal assists Bravura’s wrap admin presence, begun by the development of a platform for the Nucleus group of independent planners, in a market tipped to have nearly $400 billion under administration in the UK by the end of this year. The foothold into Lifetime is a bright spot in a bad year for Dunstan, who along with fellow Bravura founder Simon Woodfull lost control of most of his shares following the collapse of margin lender Lift Capital. “;With the way the market’s been treating tech stocks we would have lost a fair bit on paper anyway,”; Dunstan said. “;You’ve just got to get back to focussing on business.”; On that score, Dunstan is confident of finding opportunities where “;after 10 years of neglect during the bull market”;, every funds manager was testing systems providers.