We recently caught-up with Andrew Denham-Davis, Business Development Director at Brooks Macdonald and captured his strong views on discretionary models on platforms for the latest instalment in our DISCUS Coffee Talks video series.
Andrew firmly believes advisers should take a lead from nature and run their businesses with just one heart. Intrigued? Watch the full video below for Andrew’s views on the use of platform models and how advisers can use technology to improve efficiencies in their businesses.
Can’t watch the video? Here’s a short synopsis (although it’s definitely worth watching the video, if you can spare a few minutes):
Over recent years we have witnessed large growth in the use of platforms by advisers. Indeed, the regulator’s stance on platforms and segmentation has lead many advisory firms to adopt more than one platform.
While Brooks Macdonald offer discretionary models on platforms and like their competitors make this offering widely available, Andrew has a query as to why an adviser would use a platform (or platforms as the case may be) when utilising the services of a discretionary investment manager.
In Andrew’s view, if you have taken the decision to adopt the most efficient portfolio management approach (discretionary investment management) then why would you use a platform? He argues that platforms are best suited to advisory business, where the full platform functionality can be utilised.
Why not make better use of the existing technology within your advisory practice, using your back office as the ‘single heart’ of your business. This is an area Andrew is very passionate about and Brooks Macdonald have recently hired a CRM Support Consultant to help advisers in this regard.
As always, your comments are most welcome. Please take a moment to share your views in the space below.
This article was created for the DISCUS website based on the thoughts of Andrew Denham-Davis at Brooks Macdonald on the use of platforms for discretionary model portfolios. To find out more about Brooks Macdonald’s investment services, visit the Brooks Macdonald page.