UK-based investment management business Redmayne Bentley has rolled out a centralised investment proposition for financial advisers.
This comes as UK-based platform Parmenion recently launched a service to provide open architecture access to advisers who want to build and run their own portfolios.
Your Portfolio Service (YPS) has been designed to complement existing business practices, reduce ongoing administration and resources needed to deal with fund and investment selection.
The white-labelled service will provide a variety of risk-profiling solutions and cover accumulation, decumulation and ESG requirements, the firm said.
With YPS, Redmayne Bentley will create a range of portfolios in partnership with advice firms to meet its clients’ criteria. The firms will be able to use their own brands and can host the service on their preferred platform as well.
The investment manager will also run on-site investment committee meetings to allow advice firms to have “meaningful ongoing input” into the proposition on behalf of their customers, it said.
Spend more time with clients
James Andrews, Redmayne Bentley partner and director of investment management, said: “We soft-launched this proposition in 2019, based on demand from existing financial adviser clients. It has been very well received due to the level of support we have offered to advisers and the performance of the portfolios has been very positive, outperforming their respective ARC benchmarks.
“In response to the feedback received, we are now partnering with other like-minded firms where we can help create capacity through leveraging Redmayne Bentley’s investment expertise. This white-labelled service allows them to spend more time directly advising their clients, retaining the closeness of those relationships and the strength of their brand.”
Lawrence Fisher, investment management department manager at Redmayne Bentley, added: “The current regulatory landscape makes it operationally onerous for firms to manage clients on an advisory basis, often the alternative being a discretionary on-platform MPS solution.
“With these types of arrangements, there is little ongoing service provided by the investment manager, aside from a quarterly fact sheet, there is also the inability for the adviser to have meaningful input into the investment proposition on behalf of their clients.
“We offer direct contact with a dedicated investment manager, white-labelled documentation and quarterly investment committees. The overarching aim is to help advisers mitigate the regulatory risk and operational burden within their business through a high-quality proposition, which enables them to spend more time advising their clients.”
