News - Press Release

July 23rd 2009

Dunstan Thomas links with Legacy Asset Migration and Succession Advisory Services

Note - Succession Advisory Service directors own 40% of Legacy Asset Migration. Dunstan Thomas own 20% of Legacy Asset Migration.

Former Thinc chief executive Simon Chamberlain has unveiled Succession Advisory Services, a new IFA consolidation vehicle. Succession will specialise in consolidation and capital creation for IFA firms seeking to future proof their business from the regulatory and competitive challenges while securing guaranteed exit partners for those seeking to exit the market. It is also designed to enable IFAs to outsource their investment process, allowing them to dedicate more time to servicing their clients.

Succession uses an investment matrix available through its web portal which enables IFAs to choose investment solutions that meet the individual needs of clients. The firm estimates that outsourcing the entire investment process to the vehicle will give IFAs a 40 per cent increase in their time.

The matrix has been developed using risk and research experts Rayner Spencer Mills to create a range of best of breed solutions based on academic research, emphasising diversification, strategic asset allocation and automatic rebalancing. Succession plans to engage with 85 UK IFAs over the next six months and is targeting £7bn funds under management.

It will use leading fund houses including TACTICA Fund Management, with portfolios managed by Goldman Sachs International, Seven Investment Management and Frontier Capital Management with a further four contracts expected to be signed imminently. The matrix is a completely audited investment process with risk profiling that enables IFAs to view funds across a range of investment styles from passive to multi asset active and a suite of ‘lifestyle’ funds. It will be independently reviewed on a monthly basis by Succession and Rayner Spencer Mills. Its funds are available on all wrap platforms and also through the Succession website.

Chief executive Simon Chamberlain says: “Advisers in the industry want to be able to concentrate on achieving their client’s objectives. By outsourcing the fund management process to professional fund managers it saves them valuable time that they can use to concentrate on building solid relationship with their clients.”