Discretionary Management  

Parmenion exceeds £3bn in AUM

Parmenion exceeds £3bn in AUM

Parmenion has passed the £3bn mark in assets under management, one year after it was bought by Aberdeen.

Aberdeen Asset Management purchased the discretionary fund manager in January last year as it looked to capitalise on changes in financial technology.

Parmemion has seen its assets under management jump to £3bn from the £2bn posted before the acquisition, which is the fastest rate of growth in the company’s history.

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Both firms have worked together to develop and expand the platform service to advisers.

Martin Jennings, head of Aberdeen digital, said: “Since the acquisition, the team has continued their tradition of five star service and feedback from customers. 

“This goes to show that the decision to keep a distinct and separate operating model has proved correct.”

Richard Goodall, marketing and distribution director at Parmenion, was confident 2017 will be another year of strong growth for the firm, particularly with the support of the parent group.

He added: “It is clear that there is great potential to capitalize on innovative technology as a way of opening up new markets in the UK.”