Parmenion invests to impress
Yet again Parmenion – recently acquired by Aberdeen Asset Management – heads the five-star service awards category in the investment providers section. But being well thought of does not mean the firm has been complacent.
Over the past year Parmenion has introduced several large-scale technology projects developed entirely in-house. These include the UK’s first automated advice technology, an in-house Sipp and a redesigned adviser website. These developments focus on supporting advisers by providing a clear path for clients while simultaneously reducing costs.
For instance, the Parmenion Sipp wrap carries no additional charges to the standard Parmenion portfolio fees, even within drawdown. The firm also claims its integrated approach offers efficiency gains to advisers because it owns and controls the discretionary management, custody services and technology behind the adviser’s investment proposition.
Richard Goodall, partner at Parmenion said: “It’s been yet another fantastic year of growth for us. Against a background of considerable change in the adviser landscape, our ability to create the services needed by a modern adviser businesses continues to drive our success. Building innovative technology is an exciting place to be at this time.”
In January, Parmenion was included in the FinTech 50 list for 2015. The FinTech 50 recognises the hottest 50 companies in Europe who are transforming the future of financial services through technology.
Mr Goodall continued: “Advisers need to make the business of providing financial advice as efficient, uncomplicated and as error-free as possible. Our integrated approach and customer service keeps advisers in control and provides ease in processing applications from start to finish. Parmenion has grown assets under management by 65 per cent in the past year as advisers continue to embrace our technology-driven, risk-graded discretionary fund management portfolios.”
Russell Investments woos advisers
Russell Investments’ apparently sudden rise to prominence in the five-star service awards category for investment providers is founded on an approach dating back five years, according to Nick French, managing director UK private client services.
Mr French said this year’s result is “a reflection of our commitment to our adviser clients over the years”. The key element of this is the company’s adviser business development programme events, which have been attended by more than 600 advisers over the past five years, he added.
The Russell Academy is the centre of this approach, bringing together the company’s experience in helping many advisers around the world, offering a modular approach so the adviser can pick on elements that fit their business model.
Mr French said: “Last year, especially for key adviser clients, we ran events involving 70 advisers called Adviser Sphere, where the focus was on various areas, such as demographic themes. This October we had an event focusing on solutions for an ageing client base. This involved having a language expert from the US who demonstrated the different approaches necessary when talking to different groups.”
