Mr Moles said Progeny Wealth has standardised its investment proposition and will continue to train advisers on the portfolios that are available.
Progeny Wealth has begun to roll-out its client platform that allows clients to aggregate their financial and legal information from stewardship reports to property valuations, pensions and Isas, among others.
Progeny Wealth has appointed an HR director to support is employees.
Mr Moles says: “We have launched an Adviser Academy to train up our more junior team members, with the first three advisers already enrolled and making fantastic progress.”
He anticipates the company’s AUM will increase to £5bn within the next five years.
8: St James's Place Wealth Management
Training was a core theme at St James’s Place over the past year.
SJP came eighth place in the Top 100 list, bringing it back into the top 10.
In the previous year, SJP ranked 20th.
SJP saw its 500th graduate successfully complete the in-house training programme.
Data by Matrix Solutions indicated assets grew from £97bn to £110bn between the first half of 2018 and the second half of 2019.
A spokesperson says: “At St James’s Place we are proud of the contribution made by academy graduates to the financial advice industry over the years and are buoyed to see numbers entering the academy continue to grow, especially as the demand for face-to-face financial advice has continued to increase.”
In September this year, SJP launched a level six inclusive financial planning unit tailored to advisers working with vulnerable clients in collaboration with the Chartered Insurance Institute.
The unit is intended to help advisers gain chartered status.
A spokesperson for SJP says: “To this day, SJP counts over 21 per cent of its partnership having achieved chartered status already and has committed to increasing this figure to 25per cent by 2020.”
SJP has also seen developments on the technology side.
The spokesperson says: “Through our partnership with fintech firm Flagstone we were able to expand our online cash management platform to clients with £50,000 of savings, making it available across adviser businesses.”
The platform was rolled out to 4,096 SJP advisers, giving access to more than 550 deposit accounts from more than 30 banks and building societies, including High Street banks through to newer, emerging challenger brands.
9: Tenet
Tenet stayed in the top 10 of the Top 100 list this year, although it lost its ranking of first place.
This year, Tenet Group came in ninth place.
But data by Matrix Solutions showed that Tenet’s AUM grew from £4.4bn to £5.5bn.
Tenet Group said one of the biggest challenges it faced was updating its client relationship management system, which went live for more than 2,000 people in September last year.
“Although advisers won’t be replaced with robo-advice anytime soon, they will be replaced by advisers with the best technology and that’s what we’re aiming to give them,” said Mark Scanlon, chief executive at Tenet Group.
