Service Awards: Investment Five-Star Winners

Parmenion Capital PartnersPlatform power puts Parmenion at top of tree

The combination of award-winning online platform-based administration with discretionary fund management capabilities is why Parmenion is regarded as one of the best investment providers.

That is the belief of Patrick Ingram, the firm’s head of corporate relationships, who says the combination enabled advisers to deliver a sophisticated client investment service, while building efficient, scalable and profitable businesses.

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Mr Ingram said: “Our smart and intuitive technology has advanced adviser-charging features, enabling us to produce fully reconciled weekly fee payments to advisers.”

Parmenion now has more than £750m of assets under management with more than 1,600 registered financial advisers.

All solutions are managed within a choice of risk frameworks by a highly qualified team with specialist investment risk expertise, and are accessible through multiple wrappers including Isas, offshore bonds and Sipps.

Mr Ingram added: “Our tiered pricing structure for large accounts was introduced just over a year ago and remains one of the most competitive in the market.

“More recent developments have included the launch of our new IQ investment analysis report, as well as an expansion in our sales team to provide full national coverage, and some high-profile appointments in our investment-management team. We have also increased the number of Sipp and bond wrappers.”

Current projects under way include tactical income and target-date portfolios, as well as some new adviser software enhancements, which are being developed to address concerns that advisers are under pressure to service a greater number of clients with more efficiency.

Mr Ingram said: “Our competitive edge lies in the way in which we can combine our technology and investment management capabilities, allowing advisers to blend investment styles and asset allocations at individual portfolio level.”

Axa ElevateClean share classes boost appeal

Elevate is well placed for the changes brought by the RDR, according to managing director David Thompson, and has led the way with the introduction of more than 2,500 clean share classes.

Pointing towards recent figures that suggest advisers see clean share classes as the future, Mr Thompson said Axa’s offering of a comprehensive suite of clean share classes means advisers who have clients on Elevate have the opportunity to move clients across.

Mr Thompson added: “With a clean share class alternative for over 90 per cent of funds on Elevate, the main question for an adviser is when and how to migrate money between funds.

“To save time when moving clients into different share classes we offer a bulk switching facility, which allows an adviser to move their entire client book. And thanks to our policy of pre-funding transactions, time out of the market is mitigated.”

Mr Thompson said Axa has worked extensively to help adviser firms embed not just the technology, but also the regulatory changes brought about by the RDR.