Parmenion has announced the expansion of its investment proposition by adding five Brooks Macdonald Model Portfolio Service (MPS) ranges to its offering.
The adviser platform described the move as part of it’s “ambitious growth strategy”, which also saw the acquisition of discretionary fund manager EBI Portfolios in September. In May, Parmenion added portfolios from wealth managers LGT and Tatton to its platform.
The Brooks Macdonald MPS ranges added to Parmenion’s platform are:
• Brooks Macdonald MPS Income (three portfolios, low to medium risk)
• Brooks Macdonald MPS Growth (two portfolios, medium to high risk)
• Brooks Macdonald MPS Income & Growth (four portfolios, low to medium risk)
• Brooks Macdonald MPS Passive (three portfolios, low to high risk)
• Brooks Macdonald MPS Responsible (five portfolios, low to high risk)
Parmenion CEO, Martin Jennings, said: “Brooks Macdonald’s highly respected model portfolios are an exciting addition to our platform. This will be the fourth DFM we have added on customer demand, boosting the breadth of our investment offering. We know our customers are facing increasing service and technology challenges and, by broadening our investment range alongside our own market-leading portfolios, we can support them in delivering their CIP and help them run an efficient and effective business.”
Brooks Macdonald head of UK distribution, Gary Stirrup, added: “We are delighted to be running on a platform so highly rated for services and built expressly for DFMs. Parmenion’s technology will place our managed portfolio service easily at advisers’ fingertips. With the investment piece taken care of, advisers will be able to spend more time doing what they do best, focusing on their clients’ holistic wealth planning.”
Parmenion was sold by Standard Life Aberdeen to Preservation Capital Partners for £102m in March 2021. Shortly after, Assetco bought a 30% stake in the business for £28m.
See also: Parmenion sells down UK equity income and ups corporate bonds to neutral