'Outdated' wraps face outsourcing challenge

Parmenion, which offers investment platform services to IFAs, says wrap offerings often leave advisers over-stretched and clients under-serviced. It expects the market to shift to outsourcing investments alongside a traditional wrap, leaving IFAs to focus on core capabilities. Parmenion Capital Partners sales director Paul Miles says outsourcing, as opposed to straightforward wrap platforms or multi-manager alternatives, is the best way of maximising the use of adviser time. “Consolidating to an outsourced manager still leaves the adviser in control of the vital issues – the financial...