Model Portfolios  

Parmenion adds Tatton and LGT portfolios to platform

Parmenion adds Tatton and LGT portfolios to platform
Brett Sayles/Pexels

Parmenion is in the process of adding 22 portfolios from Tatton Investment Management and LGT to its platform.

The advised platform told FTAdviser in November it was planning to allow advisers access to external DFMs and model portfolios on its platform. Today (May 16), Parmenion confirmed its first two external partners to come onboard in the platform’s 15-year history.

The partnerships will see six model portfolios added from LGT, and 16 from Tatton. Parmenion intends to fully integrate the portfolios, as part of its vision for a centralised investment proposition for advisers.

Model portfolios from LGT comprise of five different risk ratings - which include Adventurous, Growth, Balanced, Cautious and Defensive - as well as a strategic income solution. 

Tatton’s portfolio models will offer Parmenion advisers three different investment styles -  fully managed, tracker, or 50/50 managed tracker. An ethical range will also be included.

In December 2021, Parmenion’s investments under management exceeded £9bn, held by 1,500 adviser firms on behalf of 80,000 underlying clients.

Parmenion’s chief executive, Martin Jennings, has said previously advisers regularly gave him feedback about how much they liked the company's offering, but complained about a lack of "breadth of product".

Jennings said adding external DFMs to solve this “breadth” problem will not, however, see Parmenion become a wrap platform.

"This isn’t distribution of product. This is about meeting a core need from the adviser. That’s a big change for us to open our proposition up,” he said.

In December, Parmenion’s chief marketing officer Sarah Lyons reiterated this, saying the platform had no regrets about its decision not to onboard some of its popular model portfolios to rival platforms, and that advisers are “better on our tech”.

Today, Jennings said: “We have made no secret of our strategy to be the platform of choice for advisers running centralised investment propositions.

“As advisers increasingly look to run their businesses more efficiently, we believe it is imperative that we respond to their changing requirements and expand our investment proposition further to help support their clients’ investment objectives”

In February, Parmenion launched its Affinity partnership which sees Parmenion act as an investment adviser to advice firms.

A number of firms have been working with Parmenion in this way for some time and the investment company expects to add six advice firms per year for the next three years.

ruby.hinchliffe@ft.com