Parmenion adds ETF model portfolios to platform

Parmenion adds ETF model portfolios to platform

Parmenion has added a range of model portfolios investing in exchange-traded funds (ETFs) to its platform.

Advisers can now access the Twenty20 Investment’s discretionary fund management (DFM) service, which is made up of 10 risk-rated portfolios and built using ETFs.

The model portfolios use a framework which adapts the asset allocation process in line with changes to the wider economy.

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Adviser view:

Allan Lane, managing partner of Twenty20, said: “We believe strongly that innovative use of technology offers the best hope of driving costs down.”

He added that combining Parmenion with the company’s “rules-based ETF investment engine” seemed like a “no-brainer”, particularly as Parmenion has built its reputation on the increasing trend for advisers to outsource the investment process to DFMs.

The portfolios have an annual management fee of 0.35 per cent.

Last month, Parmenion announced it had created 10 model portfolios designed specifically to cope with the challenges pensioners face when withdrawing their pension funds.