Monday, April 15, 2024

New boutique funding home launched via P1

Former Tees Wealth head of funding administration Kieran Follis has teamed up with platform P1 Funding Providers to launch boutique DFM funding administration agency Magellan Analysis & Funding.

The agency says it plans to supply a highly-focused vary of actively managed, risk-adjusted mannequin portfolios for monetary advisers and their shoppers.

It will function below the P1 umbrella, utilizing the agency’s regulatory, administrative and tech help framework, in addition to its low-cost, digital-only funding platform.

In the meantime, Magellan mannequin portfolios will even be out there on a number of different advisory platforms.

Mr Follis has beforehand been a divisional director at Gerrard/Barclays Wealth as effectively working most not too long ago at Tees Wealth in Bishop’s Stortford.

Mr Follis mentioned: “The continuing spate of M&A throughout the funding trade fills us with dismay. It speaks to the herding of shoppers, homogenous portfolios and an rising lack of differentiation between what appears an ever-decreasing circle of fewer, however very massive companies.

“We’re decided to work as true consumer managers, not merely consumer gatherers. Professionally, we additionally wish to shine a vibrant mild into the darkish corners of the DFM world, the place charges can stay stubbornly excessive, however returns typically disappoint.”

He met with a number of platform suppliers within the build-out of Magellan, earlier than selecting P1. He mentioned: “They share our imaginative and prescient of cautious progress, and as shut companions on our journey, stand beside us with the assets and talent we’d like.”

P1 chief government James Priday mentioned: “Kieran bringing his enterprise below the P1 umbrella is a pure match. P1 is all the time trying to work with modern funding managers. We glance to help them in the identical manner that we help recommendation companies; by letting them give attention to the job by eradicating operational and administrative burden.”

Magellan will be a part of P1 alongside a number of funding managers working their companies below P1’s umbrella, together with Elston Portfolio Administration, Corrival Capital Administration, Pangea Impression Investments and 5 Horizons.

Final 12 months former Brooks Macdonald funding director Daniel Minett teamed up with P1 to launch his personal DFM-based wealth administration agency.


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