For adviser use only
The end of one year and beginning of another feels like the natural time to get things straight and put everything in order. That’s probably why financial advisers get super busy with client enquiries around December and January.
The same urge to get things in order applies to adviser due diligence on your strategic investment and platform partner.
To offer a helping hand, we have commissioned work by independent consultancies, AKG and threesixty, which back up our success in being judged Platform of the Year, the industry’s top award.
Improved Platform Strength rating from AKG
For 10 years we have held a ‘B-‘ or Satisfactory platform strength rating from AKG. This year it has been upgraded to ‘B’, which equates to a Strong rating. This reflects the strength of our internal controls and financial governance, as well as the capital support we receive from our parent company. Only Standard Aberdeen has achieved the highest rating for its Wrap platform. We feel that having common ownership with an independent strategy means we could be heading towards the highest rating too.
DFM due diligence from AKG
AKG have also produced a DFM Strength assessment of Parmenion, where again we are judged to be Strong. This is supported by a very detailed report on the key aspects of our business and how it is managed and controlled.
threesixty Report
Finally, threesixty, the compliance and technical support consultancy, have repeated their annual review of Parmenion and have produced a detailed report for advisers. If you are looking for independent evidence on the key risk areas in our DFM business based on face to face interviews with senior leaders in Compliance, Investment, Finance, Operations, Human Resources, Customer Service and IT development, this is a great place to start.
Access to the reports
As supplements to the due diligence that you carry out in the course of doing business, and through experiencing the service levels and responsiveness and investment outcomes that we deliver, these documents will round off this year’s due diligence record keeping very tidily indeed.
If you would like a copy of any or each of these reports, please contact our Client Services team on 0117 204 7678 or Clientservices@parmenion.co.uk.
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.