There are three key elements to the service we provide. Most people naturally focus on the first — financial planning and advice — which remains the most important part of what we do. The second is how and where your money is invested. The third element, which is often less visible and not something you may think about very often, is the investment platform on which your investments are held.
Over the last few years, the number of platforms we use has increased. This has largely been a result of our growth and the clients who have joined us from other financial planning firms, often bringing existing arrangements with them. Now is a good time for us to re-evaluate the platforms we recommend.
An investment platform is the infrastructure that enables us to implement changes to your portfolio — from investing new money and rebalancing, to making withdrawals and providing valuations. When selecting platforms, we consider cost, suitability for your needs, functionality, and customer service. In practice, unless a client has very specific or niche requirements, a smaller number of high-quality platforms can well serve most people.
One of the reasons we joined the Purposeful Group (formerly Finitor Wealth) was to benefit from shared resources and to improve how we use technology for our clients. As part of this, the Group has developed the Purposeful Platform. This allows us to benefit from economies of scale and, importantly, gives us greater control over how the platform operates and how issues are resolved. As many of you will appreciate, the true test of any system is how well it performs when something goes wrong.
The Purposeful Platform offers a secure, streamlined, and user-friendly way to manage your investments. It also allows clients to consolidate multiple investments in one place, providing:
- Clear visibility and up-to-date valuations
- Efficient processing of transactions
- Safe custody and dealing services
- Integration with our MyFMB client portal
- Access to our own Purposeful Platform support team
The platform is powered by SS&C Hubwise’s trusted infrastructure, ensuring your investments are managed with high standards of security and reliability.
Over the coming months, where appropriate for your circumstances, we will look to make greater use of the Purposeful Platform. This will be done gradually and thoughtfully — either as part of your annual review or by contacting you separately with further information as we migrate clients in stages.
As always, any changes will be made with your best interests in mind, and we will discuss these with you before taking any action.