Rosie Davies, our Assets Transfer Manager, shares what our Silver STAR accreditation means to her team – and everyone in the business
The Transfers Team at Parmenion has grown quite a bit in my time with the company from just 3 of us in 2016 to 10 currently. We work closely with a lot of other teams and third parties to try to make sure transfers in and out of Parmenion go as smoothly as possible and that spirit of collaboration is reflected through STAR and other industry groups, as well as our internal teams.
Parmenion has been a part of STAR since it was founded and it’s exciting to see what can happen when so many firms throughout the industry come together to try to make things better. We’re not a big team compared to a lot of other firms who have been accredited on this occasion, which allows us to make sure every member of the team is trained to a high standard and cares about getting it right.
That’s why it’s so great to be given a Silver accreditation for our transfer service by STAR for both 2022 and 2023. It recognises Parmenion as leading the way within the industry when it comes to processing transfers and setting high standards that we believe all clients should come to expect when moving between providers. It also reflects the continued hard work across both the Transfers Team and the wider Operations teams here at Parmenion, which ensures that the work is processed quickly and accurately to provide positive client outcomes. I’m proud of the work that the team have put in to achieve this accreditation which puts us in line or ahead of a lot of other ISA, GIA and SIPP providers who have also been accredited.
In the past year the team have made a lot of continuous improvement to allow a greater focus on the more complicated tasks, improving efficiency and increasing further our accuracy rate. Individual members of our Transfers team are constantly coming up with ideas on how to improve processes and we have a lot of exciting updates to our systems coming up to make the process even faster and easier for our clients. We’re always looking for ways to improve the process, and those changes should all add up to us going for Gold!
At any one time we have roughly 600 in progress transfers being received into Parmenion, in addition to processing transfers out to other providers. All transfer cases are chased at least every 10 working days and we also deal with about 550 emails from advisers and third parties every week, which are all responded to within 2 working days.
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.
