Ascentric joint founder Michael Fordham is heading a new platform for advisers called Platform One.
The platform, which is aimed at top-tier advice firms and multiple family offices, white labels Royal London’s Investment Funds Direct platform and minimum investment is £250,000.
The firm aims to reach £1.2bn of assets under administration over the next five years.
Platform One has been founded by the Way Group, London & Colonial, Ward Goodman Financial Services, Section 615, European Pensions Management and Cheviot Asset Management.
The platform offers an international service which is administered by Moventum of Luxemburg and the custodian is Banque de Luxemburg. The service is designed to hold overseas investment such as Qrops.
Managing director Fordham says: “The £1.2bn target we have set for the next five years is very modest but we believe it is the right business plan for the current climate.”
The Lang Cat principle Mark Polson says: “It is interesting to see new entrants trying to do something a bit different. Platform One will clearly be a niche player but I think it will do well.”