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Model behaviour

Rutherford Wilkinson was an early adopter of the wrap concept as we felt there were a number of attractions but the main question was – which wrap?

Ultimately, we opted for Transact as it allowed for explicit charging of our fees, their fees and fund management costs. We felt the transparency of this was to the advantage of the client. In addition, we were able to access funds from institutional fund managers that were not normally available to us or our clients.

The overall costs of these funds went a long way to offsetting the cost of the platform. This allowed us to build model portfolios for the different risk profiles of our clients. We felt this was a crucial point when treat-ing customers fairly and consistently across the firm.

Another significant advantage was the service level that we were able to provide to our clients.

It is refreshing for the adviser and client to be able to discuss their needs, for example, a withdrawal, and to take action there and then, with the proceeds to appear in the client’s bank within a matter of days.

Having accurate valuations at the touch of a button significantly reduces admin time and costs. Our clients have also enjoyed a reduction in junk mail and marketing from fund management houses intent on selling their latest offering. This reduces the risk of “misbuying”.

In a nutshell, we have achieved administrative efficiency, greater fund manager choice, a platform for treating customers fairly and a great client service proposition. Ultimately, this makes for happy clients and a more profitable business.

Peter Rutherford is chief executive officer of Rutherford Wilkinson


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