The Guernsey-based Momentum Wealth International Platform, part of MMI Holdings, already has an established open architecture international portfolio life bond alongside a pure investment wealth management product which will now be marketed outside of South Africa by Provisca.
Provisca sales director Watson said the platform already had $1.8bn (€1.61bn, £1.35bn) of assets under administration, originating mainly from South Africa, making it one of the largest platforms in the international market.
“This means that the underlying Momentum platform is thoroughly tried and tested, with 20 years of trading in the domestic South African market where it has over $9bn of assets under administration.”
Both the Personal Portfolio and the International Portfolio Bond offer a range of fund management groups and funds, plus DFM managed portfolios.
Financial advisers can create their own charging and commission structure on a client-by-client basis, Watson said, with online access to management and reporting of investments 24/7 using real time information and certain CRM systems.
Modern, transparent products
Provisca marketing director Bryan Low said: “Given the trends within the international IFA market towards modern, transparent products and the desire to achieve efficiencies in business procedures, we felt it was important that Provisca’s first product launch was a platform.
“We are delighted that our partnership with Momentum will enable us to provide this modern and innovative product from a high quality brand and jurisdiction to advisers around the world.”
Former VAM Funds sales director Nigel Watson and Bryan Low, founder of Acuity Consultants, joined forces in August to set up a distribution company for international products called Provisca.
