The original concept of running model portfolios for adviser firms was created in 2006, and following a trial period IBOSS Ltd was officially established as a company in 2008.
With many of the years following our inception possibly being the most turbulent for markets in recent memory, including the COVID-19 global pandemic, these experiences have taught us how to manage money in good times and bad.
Our Chief Investment Officer, Chris Metcalfe, came up with the original concept of running model portfolios for adviser firms two years prior to our launch, creating them for an IFA practice he worked for at the time.
Chris had grown frustrated at the number of times he had witnessed himself and fellow advisers within the practise basically having to reinvent the wheel every time they saw a new client, or even reviewed an existing one.
Out of this frustration, coupled with a desire to support fellow financial advisers and planners who do not have the time to study the markets and actively manage portfolios, IBOSS Ltd was created and began, initially, to provide research and outsourced administrative services to the industry.
Back in 2006 the phrase ‘model portfolio service’ did not really exist, so we created our own from scratch. We built a standardised asset allocation model and then populated it with funds we had researched to create our first model portfolios.
The company name was created by an employee in the weeks leading up to our official launch date. An internal competition was run to choose an appropriate name to inform and showcase what we wanted our brand to symbolise. ‘IFA Back Office Support Services’ was simple enough to explain our original proposition to the industry but with it not being one to immediately roll off the tongue, it was quickly abbreviated to ‘IBOSS’.
The first product was the Portfolio Management Service (PMS), an outsourced investment solution which grew to administer circa £1 billion in June 2020.
In response to adviser demand we launched our multi-asset OEIC Fund Range in February 2016 under the newly formed IBOSS Asset Management.
This was followed in November 2018 by the launch of our discretionary solution; the Managed Portfolio Service (MPS), offering a range of active portfolios (Core MPS). Since then we have expanded to include Passive, Income and Sustainable MPS ranges.
All three of our investment solutions are run by the same Investment Team, who are the hallmark of the IBOSS investment philosophy.
Since inception the company has been based in the spa town of Harrogate, North Yorkshire, and we think this makes us perfectly situated geographically for many reasons.
Firstly, we are directly located between the two financial hubs of London and Edinburgh, which we frequently travel to. We feel it is a real advantage to be able to visit the two capitals but then return to Harrogate and be removed from the hustle and bustle, along with the many other distractions that the busy financial districts can bring. We hold over 300 fund manager meetings a year and, in this new era, this number is actually increasing due to the readily available and easy to use technology, which allows some of these meetings to occur online.
Secondly, it enables us to offer our investment solutions to advisers and planners nationally around the UK and not just to the north or south. Our existing mutual partners are spread far and wide, from London, Southampton and Wimborne, to Liverpool, Aberdeen and Belfast. We offer periodic visits to wherever you are based, or you are always welcome to visit our offices too and in the same vein as our fund manager meetings, if you would prefer them online, then we can facilitate this as well.
Our aim has always stayed the same: to provide innovative investment solutions to financial advisers and planners.
At every stage of our growth we’ve had the needs of advisers, planners and their clients at the forefront of our mind. We listen to advisers and adapt our solutions based on the feedback we receive. We are always looking for ways to improve our services and when we have an opportunity to enhance our existing solutions available, we do so.
We have only ever dealt with professional financial advisers, we firmly believe clients benefit from financial advice when making long term investment decisions and therefore we don’t deal directly with retail investors.
Kingswood Group acquired IBOSS in December 2021. Being part of Kingswood allows us to expand our investment team’s capabilities, and offer new and existing advisory firms an exit strategy that is one of the most attractive in the industry.