London-based Sparrows Capital has teamed up with the P1 Platform to provide its SCore model portfolios to users of the platform and to introduce existing users where appropriate.
The firm writes that a white-labelled version of the platform will also be made available for selected advice firms and other clients.
The cooperation offers Sparrow Capital’s 60+ adviser firms access to their SCore MPS portfolios on the low-cost P1 Platform, the firm says, while facilitating the firm’s capped fee charging structure.
Both Sparrows Capital and P1 Platform write that they are firmly focused on supporting low-cost high-quality investment propositions. The agreement allows financial advisers to access investment and platform services at a combined maximum cost of 0.25 per cent per annum (0.15 per cent platform charge + 0.1 per cent DFM fee), with the investment management fee dropping to 0 per cent after GBP240,000 and the platform fee dropping to 0 per cent after GBP1 million.
Sparrows Capital writes that it uses a robust evidence-based approach that produces clear, objective rules for investing. This approach has allowed them to quickly grow their client base and assets under management. The platform will host Sparrows’ full range of 44 SCore portfolios, spanning a range of strategies and risk-levels, all risk mapped by Defaqto. Sparrows Capital has a 5-star Expert rating from Defaqto for DFM MPS on platform.
The P1 Platform is operated by P1 Investment Management, which consistently tops the Lang Cat’s adviser survey for best service, is an open IFA & wealth manager investment platform. The platform is open to third-party discretionary fund managers and independent wealth managers, having recently introduced Pangea Impact Investments to the range of available options for financial advisers using the platform.
John Bennett, Head of Adviser Proposition at Sparrows Capital says: “We are delighted that P1 Platform has implemented our capped fee proposition, which is a key component in delivering the benefits of scale to the end client. Value for money should be front of mind for advisers as they engage with the FCA’s new Consumer Duty”
James Priday, CEO of P1 Investment Management says: “We’re excited to have Sparrows Capital’s SCore portfolios available through the P1 Platform. They share our belief that managing clients’ money shouldn’t be an expensive exercise. It’s great to have a DFM on the P1 Platform that is aligned to our approach. We look forward to watching this relationship grow.”