FCA promise to do better receives lukewarm reception from industry portfolio-adviser.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from portfolio-adviser.com Daily Mail and Mail on Sunday newspapers.
Fundscape chief executive Bella Caridade-Ferreira described the deal as a “really interesting” move.
She added: “I think Martin Gilbert always preferred Parmenion to Wrap and Elevate – mainly because he bought Parmenion when he was CEO of Aberdeen , before the SLA merger. I suspect he finds it more fintech, unburdened by life company legacy and more scalable than either of the other two Standard Life platforms.”
Similarly, CWC Research managing director Clive Waller said the deal was not a total surprise given “Martin Gilbert was a big fan of Parmenion when he was boss of Aberdeen”.
Parmenion services around 1,100 adviser firms and 2,600 financial advisers with £9bn in assets under management. It was founded in 2007 and employs 211 people.
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