In conversation with advisers: What outsourcing tools do you use?

clock • 1 min read

Partner Insight: Flora Maudsley-Barton, managing director of Parsonage Financial and Kerry Nelson, managing director of Nexus Financial met in London recently to discuss what tools are used for outsourcing.

In the second video of the series (see above), Flora Maudsley-Barton and Kerry Nelson talk to Julian Marr, Editor of Professional Adviser about what tools they use to outsource, from 'buying-in expert help' to looking for low-cost solutions for small savers and starters.

Flora Maudsley-Barton says: "What we do [at Parsonage Financial] is buy-in consultation, and then we make the decisions ourselves. We can choose funds that offer the simplest solution to start with, for some customers, like starter savers. Often it is a single-fund solution, but for more complex clients, we need a little more grafting of tax allowances, particularly if we have multiple tax wrappers to work with."

Nelson (Nexus Financial) has a different approach to outsourcing for her clients: "What we start with, is the basis for model portfolios for our clients and we look at how they translate initially."

When it comes to reviewing clients' portfolios, Nelson uses a chairman (who oversees an in-house investment committee): "We make the decisions based on reviews and committee meetings and we re-run the figures through proprietary systems. However, we do buy-in that extra help, [so the process] is not all on my shoulders. I like to think, we have the best of both worlds:  bringing in a renown outsourced individual, but at the same time working within the parameters of our business."

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