Alan is an Independent Financial Adviser and one of the Founders at Odyssey Wealth Management.
How long have you been using IBOSS?
In total, about three years.
What services do you use?
We started off using the Portfolio Management Service, however have recently recommended the OEIC to some clients and expect to use it more in the future.
Are you using IBOSS as part of a formalised Centralised Investment Proposition?
Yes, absolutely, usually for investments of £50,000 and higher.
How did you first find out about IBOSS?
We were introduced to IBOSS via Sense Network.
After an initial meeting with their Business Development Manager, Kevin Morrison, we embarked on a thorough due diligence process.
It was important that we spoke with firms already using IBOSS. Their reaction was really impressive and convinced us to work with IBOSS. Without exception they were hugely positive, explaining that IBOSS does exactly what they said they would, that is freed up massive amounts of time and we wouldn’t regret working with them.
What were the important factors when you were looking for an investment partner?
For us, track record was key. Our clients are typically 50 or over, that makes minimising downside risk important. Of course, we were also looking for an excellent track record with above average risk adjusted returns.
It wasn’t just the numbers which were important though; it was essential that our investment partner’s team were accessible. This has proven to be the case with IBOSS, their team answer questions from us and our clients quickly and sensibly.
We were also hugely impressed by IBOSS’s communications. The quarterly updates carry our branding and provide our clients with four additional touches per year, which we couldn’t replicate ourselves.
Finally, we wanted complete transparency; if we’d uncovered poor past performance or additional charges during our due diligence, which the partner tried to hide, it would have been a red flag for us.
After concluding our due diligence and deciding to adopt IBOSS as an investment partner, we can honestly say we’ve not looked back. Over the past three years IBOSS has ticked all these boxes and more. Their investment expertise and client communications free up huge amounts of time for us. We couldn’t replicate what they do, in fact, there are occasions when we scratch our heads and wonder how they do it!
How have your clients reacted?
Engagement of 98% over the past year shows clients genuinely value the additional touch points between our face-to-face reviews. It also means that review meetings now focus on the client, and proper financial planning, rather than investment performance.
Is it possible to identify the single largest benefit to you or your clients in your relationship with IBOSS?
For us it’s the freeing up our time. We know our investment proposition is taken care of and clients are receiving regular, valuable, communications. That allows us to focus on building our business and financial planning, while maintaining oversight on our investment partners.
For clients it’s probably a tie. They love the additional touch points; the communications from Chris Metcalfe and the team are excellent. And the above average risk-adjusted returns are equally as welcome!
In three words, how would you describe IBOSS?
That’s a tough question, I’d have to say:
- Deliver (they always do)
Since taking IBOSS on as an investment partner we can honestly say that we haven’t looked back.