Rice Whatmough Crozier Launches a New Technology Enabled Investment Monitoring Service for Advisers
19th June 2014
Rice Whatmough Crozier LLP (RWC) has announced the launch of a new business, Mirror Portfolio Monitoring Services Ltd, which it says can offer Advisers the type of investment monitoring previously only available to those looking after large institutional funds.
The software, developed for RWC by Enhance Group, significantly speeds up the data collection and reporting processes involved. Management then interpret and report on the data. The result, says RWC, is the delivery of simplified, user friendly reports which show how well a fund manager is performing. This efficient and cost effective monitoring service is now available to other Advisers.
Management have been monitoring investment performance on behalf of private clients and trustees for the last four years and prior to that at Deloitte. They assist with the initial fund manager selection and then, provide an independent and regular reporting service on performance. Performance is measured not only against the chosen benchmark but also against the wider financial markets, as well as within the chosen risk level.
Kathy Whatmough, Partner of RWC, commented, “Investment monitoring is such an important role, especially for Trustees who have a fiduciary duty of care under the Trustee Act 2000. Choosing an appropriate benchmark is vital to ensuring that suitable investment strategies are selected and that performance can be judged objectively.”
“Financial planners and Advisers are increasingly using discretionary fund managers to provide bespoke or modelled investment solutions for their clients. They need to ensure a robust due diligence process in selecting the right managers, and in assessing their ongoing performance against individual clients’ agreed risk mandates.”