Mirror Portfolio Monitoring Services

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RWC Launches New Investment Monitoring Service

25th June 2014

Rice Whatmough Crozier has launched a new investment monitoring service for advisers.

Mirror Portfolio Monitoring Services aims to provide the type of fund manager performance reporting and investment monitoring services that were previously only available to those responsible for large institutional funds, to a wider range of advisers.

According to the group, the service is built on a software system designed for it by Enhance Group that “significantly speeds up the data collection and reporting processes involved”.

Kathy Whatmough, partner at RWC, said: “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.”

Whatmough explained, that while financial planners and advisers are increasingly using discretionary fund managers to provide model investment solutions to their clients, the appointment of a discretionary adviser is not a regulated activity at the moment.

But, she added, advisers need to also be aware of what products are being used.

“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,” she said.

In terms of the Mirror offering specifically, Whatmough told Portfolio Adviser that the service is something the group has been delivering to its existing clients for some time, but the decision was taken to broaden out the offering to the rest of its professional connections.

Currently the service only monitors bespoke discretionary fund managers, and is aiming

“The aim is to sit as a conduit between the adviser and the bespoke DFM,” she said.

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