Along with his other two Partners, James Tanswell and David Triggs, Rob founded Flourish Financial Planning in 2015.
Based on the Bedfordshire / Cambridgeshire border, Flourish has been using IBOSS since 2016.
What services do you use?
“We’ve predominantly used the Portfolio Management Service, but are starting to use the OEIC when appropriate.”
Are you using IBOSS as part of a formalised Centralised Investment Proposition?
“Yes, we are.”
How did you first find out about IBOSS?
“A consultant from a platform provider recommended that we chat to IBOSS. The timing was great as we were in the process of constructing our Centralised Investment Proposition at the time.”
Can you briefly talk us through the due diligence process that you went through?
“We started with the usual online checks, including a review of performance and other indicators which were important to us. This allowed us to draw up a shortlist of three possible investment partners.
“We then met with Kevin Morrison to continue our due diligence. Ultimately though, before we could decide to use them it was crucial we met their team, in their office. So, the three of us went up to Harrogate to continue our due diligence.
“The process was a lengthy one, over the course of several months. However, we were keen for it to be as robust as possible. In fact, IBOSS told us that where most advisers “kick the tyres” we “dismantled the engine and put it back together again!””
What were the important factors when you were looking for an investment partner?
“Outsourcing investment management was a big move for us. We needed to work with like-minded individuals who we could trust.
“IBOSS ticked the basic performance, cost and volatility boxes. But we needed to know how their business would fit with ours. We wanted an investment partner which wasn’t huge and where we had access to the key decision makers. It was really important that we were able to talk to the team managing our client’s money.”
How have you found the service from IBOSS?
“Brilliant, it’s as simple as that.
“They are just excellent in every way. The processes are slick, the white labelled communications are excellent especially and the risk adjusted performance remains attractive.
“On the odd occasion we have questioned one or two of their decisions, and we have always found them open, honest and transparent in explaining their thought process and the reasons behind the steps taken.
“In fact, it’s almost like having an investment team within our business.”
Is it possible to identify the single largest benefit in your relationship with IBOSS?
“Peace of mind.
“We know we have trusted professionals managing our clients’ money, and our own!”
In three words, how would you describe IBOSS?
“Three words? I don’t think that’s possible!
“IBOSS is like an extension of our business. They are great to work with, very efficient and know what they are doing. Behind the scenes they are excellent too; their administration is great. But, that would mean nothing if performance was poor. But it’s equally admirable with very competitive charges.
“The whole team is very accessible too. They aren’t sat in their ivory towers and they are always available for us.
“They issue regular updates and whenever there is a ‘market moving’ event such as Brexit they respond very quickly with communications that we can share with our clients.
“Some of the documents they produce are fantastic too. For example, the risk discussion document which they produce each year in January. It’s a four-page document which takes a client through the risk story in the context of IBOSS’ offering.”