SIPP exceeds £1bn AUM as we celebrate our 10 year anniversary
Parmenion has celebrated its 10th anniversary with record growth for the first quarter of 2017, as Advisers look to open up new markets and methods of distribution.
In 2007, Parmenion Capital Partners launched our proposition with the aim of bringing together discretionary managed investment services, platform services and technology. The market has evolved over the last 10 years and Parmenion has proven capability in making investment propositions compelling for Advisers and their clients. With 10 years of innovation, we have stood the test of time.
Parmenion hit its latest milestone with record growth of £326m net asset inflows for the first three months of 2017. This equates to an 85% increase from the first quarter of 2016 (year on year).
The quarter also saw the Parmenion SIPP break through £1bn assets under management barrier, and this comes shortly after the company passed the milestone of £3bn of assets under management in January this year.
Martin Jennings, CEO of Parmenion, said: “This year we have already seen records achieved across the business, with momentum continuing to build. These results are down to the combined efforts of everyone in the business including our expert investment management, agile technology development teams, and award winning service personnel. Our parent group Aberdeen Asset Management have also been very supportive and their backing has been a significant factor in our growth.”
“We continue to see new accounts and opportunities come into the business, but it is especially exciting to see our existing Adviser base growing their businesses with our help. This is superb to be a part of, and I really look forward to seeing more records being broken as the year continues.”
Top flight service and feedback has been reflected by the speed of growth and also with a host of industry awards and ratings achieved.
Recent awards include Best Platform for Discretionary Management at the Professional Adviser Awards 2017, Moneyfacts Best Discretionary Fund Manager 2016, 5 stars and Best in Investment Category at the Financial Adviser Service Awards 2016, and Platforum Best Adviser Platform 2015. Ratings include 5 stars from Defaqto for our DFM Managed Portfolio and for our SIPP drawdown alongside three Gold Service standard ratings also from Defaqto.
Parmenion is confident that there are exciting times ahead for the remainder of 2017.
Richard Goodall, Marketing and Distribution Director at Parmenion commented: “Our market continues to deliver record performance for Parmenion. Not only are we gaining more clients, but recent research from Platforum also shows that we are also increasingly becoming the platform of first choice for many of our users.”
“It is also clear that there is great potential to capitalise on innovative technology as a way of opening up new markets and methods of distribution for Advisers in the UK. We have an exciting future ahead of us.”
“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.