Parmenion launches solution due to ‘adviser demand’

Platform provider Parmenion has launched a “low risk” DFM portfolio of money market funds called Sterling Solution in response to “adviser demand”.

The company says that since pension freedoms, advisers have had “increasing responsibility” for helping clients manage their income in retirement.

It highlights that the need for short term, liquid assets to accommodate clients who want to spend money when they stop work, or have a cautious approach to risk, continues to grow.

Parmenion Investment Management says the solution it has created will appeal to clients who are looking to further diversify their portfolio by investing in a low risk solution that still has the potential for some “nominal returns”.

Parmenion hires chief distribution officer from NFU Mutual

The portfolio of short term money market funds can be held in all Parmenion wrappers including Sipp.

It says underlying exposure is to money market deposits and securities with average maturity of less than 60 days.

The solution’s initial yield will be 0.78 per cent before charges (as at 01/08/2019) and 0.46 per cent after OCF, Parmenion DFM and custody charges.

The custody charge will be set at a rate of 0.20 per cent, and a DFM fee of 0.05 per cent+ VAT to support a competitive return for investors, according to the company.

Find out more about Money Marketing’s DFM centre

Parmenion’s chief marketing officer Sarah Lyons says: “Our new Sterling Solution greatly enhances our overall proposition. It offers, at low risk, a competitive level of income, consistent with institutional money market operations. Now we have a new option for clients with a need for liquidity in their financial plans.”

The new portfolio sits alongside Parmenion’s existing range of solutions which include fully active, passive, blended, ethical, retirement and income options.

Parmenion Investment Management managing director Peter Dalgliesh adds: “The complexity of the money markets should not be underestimated. Fund selection due diligence of money market funds has to be carried out very thoroughly in order to understand what level of risk you are exposed to, especially when higher yields are being offered.”

PIM Sterling Solution will be available to advisers on the Parmenion platform only and will not be available on other platforms.

Parmenion is part of Aberdeen Standard Investments, the asset management business of Standard Life Aberdeen.


A female Caucasian doctor and a young girl of African descent are indoors in a hospital room. The girl has cancer. She is being comforted by her doctor while being hooked up to an IV.

Govt wants full flexibility for NHS pensions to solve crisis

Doctors should have full flexibility about the amount they put into pension pots so they are not penalised for working overtime, the government says. It will shortly open a consultation with the proposal that would allow high-earning clinicians and doctors to treat more patients without losing financially. This replaces the 50:50 proposal put forward for […]

RBS completes unsuitable advice redress as profits surge

The Royal Bank of Scotland is continuing its road to recovery, announcing a £1.7bn pay out to shareholders and confirming investigations into its  investment advice services are complete. Half year results this morning show pre-tax profits at the bank climbed 48 per cent to £2.7bn in the first half of the year compared to the […]

A female Caucasian doctor and a young girl of African descent are indoors in a hospital room. The girl has cancer. She is being comforted by her doctor while being hooked up to an IV.

Pension taxes ‘force’ 42% of NHS GPs to cut hours 

Thousands of NHS staff have reduced their working hours due to pension tax rules, according to the British Medical Association. The trade union surveyed 6,170 GPs and consultants to find out how their work patterns are changing due to the annual allowance and lifetime allowance. It finds 42 per cent of GPs have already reduced […]


Drawdown popularity rises again

The popularity of drawdown as a retirement option is on the up again, latest data suggests. Half of consumers opted for drawdown between April 2018 and April 2019, compared to 36 per cent that took an annuity and 14 per cent taking a cash lump sum, according to EValue’s Pension Freedom Index. The study analyses […]

US equities: opportunities for short sellers expand

Optimism is as American as baseball and apple pie. And since the financial crisis, being optimistic about US equities has paid off: they have outperformed every other major developed market by a comfortable margin. Yet while there remain plenty of good reasons to be optimistic about US equities, Stephen Moore, manager of the Artemis US […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers. Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and thought leadership.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm