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Sparrows Capital strengthens SCore MPS team


Following the recent launch of Sparrows Capital’s SCore MPS – a low-cost, capped fee model portfolio service targeted at the adviser community – the firm has hired Sophie Austen in a senior business development role. Reporting to John Bennett, head of adviser proposition, Austen will be responsible for building and managing client relationships for the recently launched SCore MPS offering, which is currently available on the Transact platform, with more platforms to follow. 

Austen was previously intermediary business development manager at Netwealth. Prior to this she spent seven years at Sanlam, latterly as a relationship manager. 

A pioneer of Evidence-Based Investing, Sparrows Capital launched the SCore MPS range on 20 February with a capped fee. Fees are just 0.1 per cent per annum, capped at GBP20 per client per month. This charge covers portfolio construction, index selection, Index Fund/ETF screening, portfolio monitoring, risk management and rebalancing. The portfolios are designed to deliver enhanced market returns with a ground-breaking fee model. 

The SCore MPS proposition consists of 11 factor portfolios representing equity exposures from zero to 100 per cent in increments of 10 per cent. 

Sparrows Capital CEO, Yariv Haim, says: “Sophie is an important hire for Sparrows Capital. She’ll play a large part in building solid relationships with Advisers through the SCore MPS range of portfolios. With low costs and a capped fee, backed by a proven investment track record, we believe that we are setting a new standard in delivering the value that Advisers and their clients seek. We believe that charging asset-based fees for model portfolios is not only outdated, it is unfair on clients and unjustifiable. Score MPS addresses regulatory concerns over issues of accessibility, transparency and cost, identified by the introduction of MiFID II.” 

Sparrows Capital’s approach is based on long term evidence and backed by robust academic studies. The team do not pick stocks or time the markets. Instead, low cost Index Funds and Exchange Traded Funds (ETFs) are used to build portfolios designed to track the markets. 

Commenting on joining Sparrows Capital, Sophie Austen says: “For far too long costs have been an issue across the investment sector. Simply put, a quality investment proposition delivered at low cost creates value. The team at Sparrows Capital have leveraged their Evidence-Based Investment approach to provide exactly that. I am excited to be joining the team to help bring this to the broader advisory market.” 

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