Standard Life has launched a new segregated portfolio technology called Professional Portfolio Manager (PPM), which is designed to support advisory CIP management.
It allows wrap advisers to scale their investment processes to efficiently serve more clients with dynamic investment solutions. The architecture and features of PPM signal a shift to the next phase of platform development in supporting adviser businesses.
Building on the wrap platform’s existing capabilities advisers can benefit from: trade stacking to manage conflict between planning and investment processes; mechanical rebalancing enabling tight control of portfolio drift; the ability to avoid portfolio proliferation; the ability to easily exclude clients from a rebalance; the ability to match portfolios to cash flows and target natural income.
Additionally, the service offers a comprehensive regulatory risk package and access to ETFs and exchange traded instruments with low £1 dealing cost.
David Tiller, head of UK propositions explained that PPM “helps deal with the multi-faceted challenge of delivering tightly controlled individual investment solutions in a scalable manner, while still being able to deal with the natural behaviours of clients.”
He believes that this “marks the beginning of a new wave of platform development, and indeed, of platform architecture itself.
“Advisers are telling us they are increasingly challenged by complex requirements of clients in retirement. This technology is a huge step forward. Operations that could have taken adviser businesses many man hours to deal with on an individual basis have become automated, changing the outlook and potential for adviser businesses and the many clients who can benefit from them.”
In the UK, Standard Life’s wrap and elevate platforms are used by financial advisers to provide financial planning and wealth management services to their clients. £56 billion of assets were invested across the firm’s platforms, as at 30 June 2018.