Parmenion opens investment proposition to advisory models

Advisory Models PRO provides open architecture access to advisers who want to build or run their own advisory portfolios on Parmenion technology.

The solution will be available to both new and existing adviser firms from Autumn this year.

The platform provider said it is focused on becoming the provider of choice for advisers who run a CIP.

Advisers using the technology will be able to track the performance of their CIP in an interactive format, including detailed tracking of client outcomes for delivering against Consumer Duty obligations.

There will be a single version of each model for the adviser firm to manage.

The adviser will also receive “digital nudges” to make it easier to align clients to new versions of models.

Advisers will also be able to gather digital client consent with audit trails to reduce their administrative burden.

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Martin Jennings, CEO at Parmenion, said: “Our new ownership’s support means that we can widen our proposition in our drive to be the adviser firms’ CIP provider of choice.”  

“We have ambitious plans to grow the business through working with advisers and our research tells us that adviser firms are increasingly taking a hybrid approach to how they manage their investment proposition.

“By using technology and data to solve the issues that frustrate advisers the most, we believe the launch of this new service will help advisers drive down cost by being more efficient and effective in how they run their investment proposition, whilst at the same time minimising the risk of errors and breaches.”

Private equity firm Preservation Capital Partners acquired the platform for £102m, following Standard Life Aberdeen’s decision to sell the business in November 2020.

Martin Gilbert’s AssetCo also holds a 30% stake in Parmenion Capital Partners. 

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