New boutique funding home launched by P1

Former Tees Wealth head of funding administration Kieran Follis has teamed up with platform P1 Funding Companies to launch boutique DFM funding administration agency Magellan Analysis & Funding.

The agency says it plans to supply a highly-focused vary of actively managed, risk-adjusted mannequin portfolios for monetary advisers and their purchasers.

It will function underneath the P1 umbrella, utilizing the agency’s regulatory, administrative and tech help framework, in addition to its low-cost, digital-only funding platform.

In the meantime, Magellan mannequin portfolios will even be out there on a number of different advisory platforms.

Mr Follis has beforehand been a divisional director at Gerrard/Barclays Wealth as nicely working most just lately at Tees Wealth in Bishop’s Stortford.

Mr Follis stated: “The continued spate of M&A throughout the funding trade fills us with dismay. It speaks to the herding of purchasers, homogenous portfolios and an rising lack of differentiation between what appears an ever-decreasing circle of fewer, however very giant corporations.

“We’re decided to work as true shopper managers, not merely shopper gatherers. Professionally, we additionally wish to shine a vivid gentle into the darkish corners of the DFM world, the place charges can stay stubbornly excessive, however returns usually disappoint.”

He met with a number of platform suppliers within the build-out of Magellan, earlier than selecting P1. He stated: “They share our imaginative and prescient of cautious development, and as shut companions on our journey, stand beside us with the assets and talent we’d like.”

P1 chief government James Priday stated: “Kieran bringing his enterprise underneath the P1 umbrella is a pure match. P1 is at all times seeking to work with revolutionary funding managers. We glance to help them in the identical manner that we help recommendation corporations; by letting them deal with the job by eradicating operational and administrative burden.”

Magellan will be a part of P1 alongside a number of funding managers working their companies underneath P1’s umbrella, together with Elston Portfolio Administration, Corrival Capital Administration, Pangea Influence Investments and 5 Horizons.

Final 12 months former Brooks Macdonald funding director Daniel Minett teamed up with P1 to launch his personal DFM-based wealth administration agency.


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