The firm has already completed a deal with Premier Pension Services which runs £1.5bn in small self-administered schemes.
Managing director Richard Mein says it is talking with a dozen big adviser firms, of which the smallest has £25m in assets.
He says: “What is important at the moment is that their business owns these funds and this adds value to the business. If you give these funds to other people, you are not necessarily doing the best in terms of capturing that value.”
Mein says Parmenion will offer investment management if the advisory firm chooses that route.
He says: “The outsourced offering will be bespoke. We will create the website for them and we will essentially let them piggyback our technology. The important thing is they can choose the investment funds if they wish, so they could go down the cautious, balanced or managed risk profile route that many are used to or use our six investment silos.
“Some of these would take only weeks to set up whereas others can take longer. It depends on the needs of each firm.”