Advisory Models PRO goes live for seamless portfolio rebalancing

AMP Background 1200X673px
For financial professionals only

Multi award-winning adviser platform Parmenion today announces that its game-changing technology, Advisory Models PRO, tool is now available to use, offering advisers running model portfolios added security and efficiency. 

Advisory Models PRO will be available to its first users on the Parmenion platform from this month and will overcome the problems financial advisers experience when managing their model portfolios. It allows them to keep their clients on track with their investment strategy simply and easily, while reducing the admin burden of manually gathering client consent and managing model versions. 

Advisers will no longer need to email or write to a client to make changes to their portfolio, instead the client is provided with the required information digitally to review any changes.  They can then simply accept the changes following a notification from Parmenion or via the client portal online.

As soon as consent to a model change is received, the client is moved to the latest version automatically, and Parmenion will immediately action the necessary fund trades. No manual intervention is needed from the adviser, saving them valuable time. If the client does not respond to the consent request, Parmenion will send reminders to prompt them to review the changes.

This new digital service will be supported by an app to provide improved client access to their investments, while supporting advisers with their client relationships. Clients will have access to the information they need to have positive conversations with their adviser. 

Using the Parmenion app, clients will also be able to view the changes made, the relevant KIIDS and any disclosures on their affected models. They will be able to see valuations, their investments and regular transactions, and access documents. The app has been built with security as its core, using Multi-Factor Authentication to protect clients’ data.  Anyone with a Parmenion login will be able to use the app, which is available now from the Apple and Android app stores.

For the adviser, Advisory Models PRO offers enhanced reporting, with the ability to see model performance, versions and client consent in one place. They will also be able to export data to support regulatory and reporting requirements.

Parmenion Chief Marketing Officer Sarah Lyons commented:

“The FCA’s new Consumer Duty rules mean heightened scrutiny of client outcomes. This includes potentially detrimental outcomes for those clients left in out-of-date model portfolios, where the advice firm has not received consent to make changes. If an advice firm does not have discretionary investment permissions, it cannot rebalance a client’s model portfolio without consent, which can be time consuming to seek manually. Advisory Models PRO solves the problem, saves advisers time and improves client outcomes by automating consent through a user-friendly app with great security features.

“In 2022, Parmenion pledged to bring innovative technology to the marketplace to help advisers achieve better outcomes for clients through the most up-to-date model portfolio while reducing the administrative burden on their advisers. We are delighted that we have once more delivered on our promises, and we now look forward to working with our launch partners over the coming months as Advisory Models PRO gains further momentum.”

This article is for financial professionals only. Any information contained within is of a general nature and should not be construed as a form of personal recommendation or financial advice. Nor is the information to be considered an offer or solicitation to deal in any financial instrument or to engage in any investment service or activity.

Parmenion accepts no duty of care or liability for loss arising from any person acting, or refraining from acting, as a result of any information contained within this article. All investment carries risk. The value of investments, and the income from them, can go down as well as up and investors may get back less than they put in. Past performance is not a reliable indicator of future returns.  

Speak to us and find out how we can help your business thrive.