Tuesday, 10 October 2017 11:23

Financial Planning firm opens self-built DFM to all planners

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Chartered Financial Planner Damien Rylett Chartered Financial Planner Damien Rylett

Bristol-based Financial Planning firm Brunel Capital Partners, run by Chartered Financial Planner and MD Damien Rylettt, has opened its self-built DFM firm IronBright to other Financial Planning firms.

IronBright Investment Management was launched earlier this year by Brunel to provide clients with low cost fees and portfolios better matched to clients personal risk profiles and Financial Planning objectives.

The DFM will charge other Financial Planning firms annual management charges of 0.25% plus VAT - exactly the same as Brunel pays – and the cost of the underlying funds varies from 0.17-0.25% depending on the portfolio chosen.

IronBright, launched in May, has 21 model portfolios using index funds and holding traditional asset classes such as equities, bonds, property, fixed interest and cash. IronBright excludes complex investment instruments such as hedge funds, complex derivatives and structured products.

IronBright portfolios are spread over three categories: nine pure passive and nine core-satellite portfolios sharing the same asset allocation; and three income portfolios. Rebalancing takes place twice annually and IronBright is currently available on Ascentric, Novia, 7IM and Transact but can be made available on other platforms.

Damien Rylett, Financial Planner and CEO of IronBright said:

“For years, our Financial Planning clients’ money was invested with DFMs that ran money according to their own philosophy, not ours. This meant that it was not tailored to our beliefs nor was it aligned with clients’ individual needs.

“In our eyes, this was ludicrous and our clients deserved better. We believed in our philosophy so much, we decided to build it ourselves. The philosophy is not rocket science it is evidence based. It doesn’t need to be complicated.”

IronBright is based on a philosophy of “simplicity, transparency and liquidity” so the portfolios avoid anything that fails these three tests.

Mr Rylett said: “We are able to match the clients goals precisely with the portfolio and we have complete control over where the money gets invested to ensure the clients do not get any surprises.”

The key driver of the move was control rather than cost, said Mr Rylett, with a desire to find an investment solution that matched client needs rather than those of the DFM.

Mr Rylett is CEO of the new DFM. Brunel director, Steve Brady is the managing director and responsible for the day to day management. He is supported by a number of people including a compliance manager, chief investment officer, operations manager and a dedicated investment committee. IronBright also outsources some research to an investment house in London

The FCA has approved the firm as a separately authorised firm and the process took around 6 months, says Brunel.

Last modified on Tuesday, 10 October 2017 11:35
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