Parmenion sets out its vision for “2021 and Beyond” backed by new owners – Preservation Capital Partners

by | Mar 11, 2021

Share this article

Following recent news that Preservation Capital Partners are to become the new owner of Parmenion, subject to regulatory approval, Parmenion itself has set out its ‘2021 and Beyond’ data-first business strategy. The strategy is backed by its new owner Preservation Capital Partners (PCP), a London-based private equity firm with a track record of long-term investment into growth businesses.

The group says that its strategic vision to ‘lead a new frontier of digital and data capabilities’ is core to Parmenion’s ongoing growth plans and was a key component of what attracted PCP to buying the company.

Achieving this will rely heavily on its market-leading proprietary technology, on which its entire platform has evolved. The ownership of its own technology has allowed the company to remain agile and responsive to customer needs as it grew, giving it a competitive edge in an increasingly saturated sector.

 
 

In particular, throughout 2020 the company has accelerated its digital programme through a series of key projects. Most recently it launched Vantage, a reporting tool that puts important client and business management information in the hands of its adviser users.

This has led to Parmenion placing data at the very heart of their offering, giving adviser firms the opportunity to access information that will support their own business ambitions and deliver better client outcomes.

Speaking about the acquisition, Martin Jennings, CEO of Parmenion commented: “As a business we have a clear vision for our future, which has been a driving force behind our ambitious development. Knowing who our customer is and what our core proposition makes possible for our clients has set us apart in the market meaning we keep the customer at the fore in everything we do.

 
 

“As we approach a critical next phase in our evolution as a business, we are delighted to welcome PCP on board as our new owners. Throughout the acquisition process, they demonstrated a real understanding of our long-term goal and share our strategic vision. In PCP we have a partner that is supportive of the management team and its business plan. We are now looking forward to getting on with delivering our plan for our customers.”

Customers and staff have been advised that there will be no changes to the operating model of Parmenion and that the growth plans and strategic vision for the company are shared with PCP, which is committed to supporting Parmenion to continue its expansion in the UK long term savings market.

Andrea Secci, Principal at Preservation Capital Partners, added: “We are very excited to be supporting Parmenion and its management team, led by Martin Jennings, in its next stage of growth. The IFA platform sector is one of the most attractive sub-sectors within the UK wealth management market and Parmenion is a prime example of the type of market leading businesses we like to support due to its exceptional track record of growth and award-winning service proposition. Management’s vision is closely aligned with our own philosophy of long-term investment into scalable organisations to deliver best in class service for its clients and outsized growth.

 
 

“We are fully committed to supporting the management team to continue to deliver the market-leading proposition and award-winning customer service to its clients, as well as supporting them with access to significant additional capital for further investment in the platform and accretive acquisitions.”

 

Share this article

Related articles

IFAM 127 | Not if, but when | April 2024

IFAM 127 | Not if, but when | April 2024

Not if, but when… Spring finally seems to have arrived! Since our last edition, we have had the Spring Budget and the Bank of England (BoE) rate announcement to name but a few important landmarks. This has kept us, like all of you I am sure, quite busy over the last...

Sign up to the IFA Magazine Newsletter

Trending articles

IFA Talk logo

IFA Talk is our flagship podcast, that fits perfectly into your busy life, bringing the latest insight, analysis, news and interviews to you, wherever you are.

IFA Talk Podcast - listen to the latest episode

x