Tim Woolnough & Richard Walsh, Directors

TNW Financial Services

Location
Devon
Website
www.tnwfs.co.uk
Using Parmenion since
January 2008
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About TNW Financial Services

Established in 2002, TNW Financial Services is an independent financial advice firm that provides an unbiased service to both individual and corporate clients. TNW Financial Services’ ethos is to give its clients the best possible advice by building longterm relationships based on trust, and adding value throughout the process. Working with solicitors and accountants where required, TNW aims to provide a holistic approach covering services from mortgages and investments to auto-enrolment, enabling its clients to achieve their goals and aims.

Note from Tim Woolnough & Richard Walsh, Directors, TNW Financial Services

“After making the big decision to outsource to a DFM, we quickly realised Parmenion was the partner for us. We see ourselves as Financial Planners first and foremost, and Parmenion helps us to free up our time so that we can spend it with our clients. It also means we can focus on our service delivery and spend less time fund picking and managing funds. This suits us and our clients.”

What business challenges were you facing when you elected to consider Parmenion as a partner?

We were considering whether to keep managing funds in-house or to outsource to a DFM. We spent two and a half years considering all the options, met lots of DFMs and considered them all. Simon Brett, Chief Investment Officer (CIO) of Parmenion, explained the Parmenion investment process and when we looked at what he and the team were doing, we decided that Parmenion was a company we wanted to work with.

How has Parmenion supported the development of your business?

TNW favours actively risk managed investment solutions which Parmenion offers. We like the Parmenion investment process; the contact and the service we receive are all part of that. We get to see the CIO on a regular basis which is important. It helps to maintain the flow of information and the ongoing relationship.

What has been the impact on your operational processes?

Using Parmenion has freed up our time considerably. We are Financial Planners and we want to spend our time with clients rather than on fund selection and fund management. With Parmenion, we are able to concentrate on what we do best and manage client expectations, rather than worrying about which individual funds to choose.

How have you adopted Parmenion in relation to other platforms and/or DFM solutions?

We have a range of preferred platforms and DFMs. Parmenion is an integral DFM for investment and some pension business. We have three preferred platforms and a range of DFM solutions, the selection of which is based on client objectives, investment preferences and investment size.

How have you been able to develop your proposition as a result of partnering with Parmenion? Parmenion complements what we do as a firm. It has simplified our processes and generally made life easier.

What client feedback have you received in relation to the Parmenion service?

Clients like the online system and the new valuation format is easier for our clients to understand.

What future opportunities do you expect to explore as part of your relationship with Parmenion?

We will look a little more closely at the pension services and continue to build on the relationship we already have. We have Parmenion’s support and they remain one of our preferred solutions.

As a supporting firm, what propositional developments would you most like to see from Parmenion?

Online, end to end processing.

How has Parmenion helped you secure your business objectives?

We have increased our profits with the shift in focus to financial planning and our clients.

How would you summarise the benefits of delivering an investment proposition powered by Parmenion?

It frees up our time and enables us to focus more on delivering good client service.

 



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