Parmenion inflows increase

Parmenion inflows increase

Parmenion has exceeded £2bn in assets under management, after seeing inflows of £750m in 2015.

This was a 50 per cent increase on the inflows recorded during 2014, the company said.

In September Aberdeen Asset Management bought Parmenion for an undisclosed amount.

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Rennie Miller, executive chairman of Parmenion, said: “We have our eyes firmly fixed on the next milestone and with Aberdeen’s support Parmenion is perfectly positioned to support an evolving market.

“Our goal is to keep things simple and allow more people to build strong financial futures.”

As part of the deal Parmenion, which provides risk-rated graded portfolios to financial advisers, will retain its own identity and remain located in Bristol, but will receive extra investment from Aberdeen to develop and expand its service.

The acquisition follow Aberdeen’s £550m purchase of Scottish Widows Investment Partnership in 2014.

Richard Goodall, partner and head of distribution at Parmenion, said: “Parmenion’s proven ability to sustain its fast-paced growth is really exciting.

“The quality of our technology, service and DFM capabilities continues to be independently acknowledged by our numerous award successes.”

“We are dedicated to supporting advisers in growing their businesses. Through our sophisticated yet straightforward online systems, advisers get more time to spend servicing their clients.

“The efficiency and professional control of risk that our advisers enjoy whilst running their investment propositions, also adds real value to their businesses.”