Investments  

Tatton wins adviser mandates as net inflows rise

Tatton wins adviser mandates as net inflows rise

Discretionary fund management (DFM) firm Tatton Asset Management attracted £90m a month of net inflows on average in the year to the end of March 2019.

The information was contained the annual results statement for the company, released to the stock exchange this morning (June 3).

Alongside the results announcement, the company confirmed it had won mandates to manage money for Frenkel Topping on a discretionary basis, and to manage the model portfolio services offered by the appointed representatives of the Tenet Group.

The agreements add about £350m of assets under management to the firm and come on top of the £90m average monthly net inflows in the year to the end of March.

The agreement with Frenkel Topping is for an initial three years.

The deal with Tenet comes after the advice firm's decision to remove its centrally supported advisory model portfolios in early 2020.

Mark Scanlon, chief executive at Tenet, said: "We remain committed to supporting our advisers’ independence and as one of the leading adviser support groups, we are constantly seeking to bring our members great solutions to help their clients meet their financial goals.

"Advisers may want to run their own advisory model portfolios and other fund solutions, but we believe that the efficiencies of the Tatton managed portfolio service provides great support for advisers and delivers a professional end-customer experience."

Total assets under management was £6.1bn at the end of March, with profits of 7.3 per cent. Operating margin was 41.7 per cent.

Tatton also operates the Paradigm Mortgages business, and the number of firms in the network increased by 14 per cent during the year.

Paradigm Consulting, a compliance outsourcer, increased the number of its clients to 390, an increase of 6 per cent.

Paul Hogarth, chief executive of Tatton, said: "The recent strategic investment mandate wins show how compelling our investment proposition is to the wider market.  

"We have a simple, lean operating model that gives the IFA and their clients the best investment management products at a sector leading price point and we will continue to focus on their needs as well as creating further value for our shareholders.

"With a strong balance sheet, we will invest for further growth, ensuring we have the right blend of skills and talent to capitalise on the many opportunities that exist within our markets.  We enter the new financial year confident of making further progress."

david.thorpe@ft.com