Outsourcing: Brian Hill of Jones Hill
Earlier this month Brian Hill of Jones Hill was interviewed by New Model Adviser about his approach to outsourcing investments.
In the interview, he discussed his relationship with Parmenion, the selection process Jones Hill went through, and how Parmenion’s end-to-end process makes life easier for him and his clients.
Jones Hill decided to outsource in 2015. Managing director Brian Hill said: ‘One piece of research we used to select Parmenion was a review of platforms by other financial advisers published by Platforum.’
Parmenion currently tops its size bracket and comes second overall. ‘That’s predominantly down to how well it services advisers and clients; charging, and ease of use,’ said Hill.
Parmenion integrates risk profiling and you can use it as an end-to-end process.
Jones Hill uses a rigorous annual selection process, using independent third-party consultants. The latest was provided by compliance partner Threesixty.
It does not set a minimum for the Parmenion service, although £30,000 is typically the lowest investment. Parmenion offers active and passive portfolios or a blend of these.
Clients can see their holdings in one easily navigable application.
‘We mainly use the passive ones,’ said Hill. ‘To us, the only reason to use active management is for clients wanting ethical portfolios.’
Hill added Parmenion’s end-to-end process makes life easier for Jones Hill. ‘You can do everything under one roof. So, for example, it offers two risk profilers and they are integrated into the system. You don’t need to input the information separately. It also helps reduce costs for clients.’
The full article was published in New Model Adviser on 20 July 2017 | Tim Cooper
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