Parmenion, the multi award winning adviser platform is today delighted to announce the launch of “Advisory Models PRO.” This ground-breaking new service will leverage Parmenion’s fifteen years of experience in running DFM models on its proprietary technology, opening it up for the first time, to advisory models. As the business celebrates the anniversary of new ownership with new strategic freedom, the launch of this service signifies an important new direction for the platform.
Advisory Models PRO will provide open architecture access to advisers who want to build and run their own advisory portfolios on technology that we created specifically to do just that. Parmenion is focused on becoming the provider of choice for advisers who run a CIP, and the addition of Advisory Models PRO to its own DFM MPS, Affinity service, and third party DFM solutions enables adviser firms to design and deliver the right proposition to their clients.
Advisory Models PRO will also facilitate dynamic reporting at both adviser firm and client levels. It allows the ongoing tracking of model performance in an interactive, up to date format – supporting detailed tracking of client outcomes so advisers can be confident in delivering against their upcoming Consumer Duty obligations. There will be a single version of each model for the adviser firm to manage, which will ease the operational overhead of managing the proliferation of historic versions.
Innovative management reporting will give “digital nudges” to make it easier for clients to remain in line. Digital consent gathering with audit trails mean advisers will be able to reduce the significant administrative burden of aligning clients to new versions of their models with straight through processing once consent is received. Digital consent can massively reduce lag times and the burden of administration on advisers, as well as efficiently maintaining client’s holdings in line with the advice given.
Parmenion CEO Martin Jennings said: “Having built a fantastic reputation for investment excellence and technology that just works, our new ownership’s support means that we can widen our proposition in our drive to be the adviser firms’ CIP provider of choice.”
Jennings continued: “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. For some clients, advisers will use outsourcing to DFMs such as Parmenion Investment Management, while for others direct control of their investment strategy is key.. 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.
Advisory Models PRO will be available for both existing and new adviser firms on the Parmenion platform from Autumn 2022.
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.