Parmenion leads the way with new Altus Pensions Gateway
Pension freedoms investors’ benefit as Parmenion is selected as the launch partner for the Altus Pensions Gateway
The flexibility surrounding pension withdrawals provided by Parmenion made them an ideal partner for Altus when developing their new Pensions Gateway.
Many retirees are now enjoying the benefits provided by the new pension regulations but in order to deliver the best possible client experience, it is necessary to optimise operations with class leading technology and robust business processes. Parmenion has over £1.7bn of assets invested in its SIPP and 25% of that has been allocated to drawdown accounts. Their award winning administration and service teams supported Altus in the development of their framework, which provides enhanced levels of Straight Through Processing.
Ben Cocks, Altus Business Systems’ Director said:
“Pension freedoms have created plenty of opportunities for providers but also some challenges. The key is to afford customers all the flexibility they are entitled to when accessing their pension, whilst at the same time keeping operations simple and highly automated. We pride ourselves on finding innovative ways of addressing this sort of operational challenge, but we can only achieve that by working closely with like-minded partners. Our collaboration with Parmenion has shown what can be achieved with a good mix of skills and an open mind.”
Integrations with Payroll, HMRC and internal systems mean Parmenion investors can benefit from more streamlined processing of withdrawals. The already extensive withdrawal frequency options remain and they now come with faster payment and due to changes in Payroll provider, tax calculations have moved to a more beneficial annual basis.
Parmenion are the first platform to go live with the Pensions Gateway and this is part of a continued strategy to be market leaders in the investment and servicing of retirement savings. Having recently received a 5 Star Rating from Defaqto for SIPP capability and also their Gold standard for Pensions Service, Parmenion is fast establishing itself as compelling partner for Adviser firms seeking a scalable Centralised Retirement Proposition. With intuitive proprietary technology and a discretionary managed solution designed exclusively for retirement investors, the proposition is appealing to more and more firms.
Regulatory standards are higher than ever and in order to deliver positive client outcomes Advisers need to consider many different factors when delivering their recommendations. An investment strategy that can be flexed to meet the different needs of those in accumulation or de-cumulation phases is important. As is first class service and technology that does not get in the way of the planning process but actually enhances it.
Richard Goodall, Distribution and Marketing Director at Parmenion said:
“The retirement market is a complex one. Our job at Parmenion is to make it easier for Advisers to deliver the best possible customer experience and to do so whilst providing suitable solutions. Our ability to support ‘multi-pot’ investing, where pension assets are divided into a series of sub-accounts, each with a varying objective and therefore different risk targeted portfolio, means Advisers can deliver uniquely personal recommendations.”
“The above article is intended to be a topical commentary and should not be construed as financial advice from either the author or Parmenion Capital Partners LLP. If a client wishes to obtain financial advice as to whether an investment is suitable for their needs, they should consult an authorised Financial Adviser. Past performance is not an indicator of future returns.”
Any news and/or views expressed within this document are intended as general information only and should not be viewed as a form of personal recommendation. All investment carries risk and it is important you understand this. If you are in any doubt about whether an investment is suitable for you, please contact your financial adviser.