Parmenion passes £500m AUA

The inflow figure has risen £10m since July, when managing partner Richard Mein (pictured) told IFAonline the firm wanted to hit £1bn AUA in two years. It also announced a tiered charging structure sliding from 30bps down to 15bps in an attempt to attract high net-worth clients. Case sizes have risen by 50% as a result, said Mein. "As advisers have continued to use our services to underpin their own centralised investment propositions, they are increasingly using us for much larger portfolios and it has become clear that the charging structure needed to change to accommodate this," he...