Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

Boutique wealth firm unveils online investment service

1 Comment
Boutique wealth firm unveils online investment service

City-based boutique TAM Asset Management has launched an online investment service and signed up its first IFA partner.

The white-labelled proposition enables advisers to offer a range of TAM’s model portfolios to clients on a non-advised basis.

West Yorkshire IFA firm Symphony went live with the service this week and TAM CEO Lester Petch (pictured) said eight other IFA companies have been signed up and are ‘in various stages of ready to go’.

The service, delivered by TAM subsidiary FinchTech, comprises cautious, balanced, growth and adventurous portfolios, alongside four ethical ones.

Former Wealth Manager  cover star Petch said the proposition will enable advisers with dormant, uneconomic or execution-only clients to continue to service them on a non-advised basis.

‘We are finding that our IFA connections are taking different approaches to using the service. Some are looking at it for their back book and a lot of others find clients in the £50,000 to £100,000 uneconomic. There’s no one approach,’ he said.

TAM charges an all-in fee of 0.65%, with the adviser setting their own platform fee on top.

‘These portfolios have track records over five years and it’s a real track record, not just an algorithm and back-testing,’ Petch said.

‘Over the next 12 to 18 months we are confident that we can sign up between 20 and 30 IFA firms.’

The funds will also incorporate TAM’s ‘you give, we give’ charitable initiative. This enables investors to elect to donate a percentage of the profits they make on the fund to a charity of their choice. This is then matched by TAM donating the same percentage of its annual management charge.

‘Having the choice to give to charity gives the IFAs an additional aspect to their online business. This year we will have donated over £50,000 from the fees on the internal funds we run now, which shows that it is real and it is working,’ Petch added.

 

 

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play CEO Tapes: Buxton to Gilbert - ‘my Glencore quandary’

CEO Tapes: Buxton to Gilbert - ‘my Glencore quandary’

Do not miss the first two minutes of this film as Richard Buxton shares how he has been challenged by a client for owning shares in a certain company.

Play CEO Tapes: the huge opportunities for asset managers

CEO Tapes: the huge opportunities for asset managers

From tech disruption, retirement and poaching, the CEO discuss the opportunities for their businesses in this episode.

Play CEO Tapes: 'we're just a bunch of white dudes sitting here'

CEO Tapes: 'we're just a bunch of white dudes sitting here'

In our brand new series, eight CEOs discuss how the industry could do a better job for female fund managers.

Read More
Your Business: Cover Star Club

Profile: Kevin Doran's formula for success at AJ Bell

Profile: Kevin Doran's formula for success at AJ Bell

From a degree in theoretical physics to teaching and becoming one of the youngest chief investment officers in the UK, Kevin Doran has certainly had an interesting career.

Wealth Manager on Twitter