Case Study #10; Andrew Cook of Heritage Investments

Andrew Cook Heritage

Andrew Cook is a Director and Independent Financial Adviser at Heritage Investments based in Wimborne, Dorset.

How long have you been using IBOSS?

The decision to start using them was made in 2014.

What services do you use?

Mainly the Portfolio Management Service (PMS). We have just started using the OEIC Fund Range but, as we stand today, about 99% of our assets are held on the PMS.

What separates IBOSS from similar investment offerings on the market?

The team. Chris Metcalfe did a presentation to us and he was passionately independent. We also liked that there were no conflicts of interest, performance was fantastic and the service we have since received has been second to none. It is also white-labelled, which is an extension to our company with none of the hassles of employing investment managers and staff.

What problems were you trying to solve by using the IBOSS services?

If you build your business just on performance, it will be a recipe for disaster. We build our business on service and performance at the same time, and we wanted to increase both. As such, rather than having disorganised meetings where you have paperwork fly all over the place every six months to do reviews, IBOSS’ technology to do a quarterly rebalance via a very slick email service has been fantastic. At the same time, delegating all the asset allocation and the fund selection to IBOSS allows us more time to have meaningful conversations with our clients on other matters.

Is it possible to identify the single largest benefit to you or your clients in your relationship with IBOSS?

The main benefit has been the establishment of a very robust investment proposition for our firm, which has led to huge amounts of time saving.

What is the main reason you would recommend IBOSS to a fellow financial adviser who was looking for an outsourced investment solution?

While the service and performance are great, the key thing for me is that we feel completely connected to the investment proposition. I see Kevin Morrison every six months either through webinars or face-to-face meetings, which makes us feel that we are really under the skin of the investment decisions they are making. As a result, out of all the investment propositions out there, this is the one I trust the most and feel the most connected to.

How have your clients reacted overall?

Upping the service levels from one contact point, up to five contact points per year, including the four rebalances, has very much increased the level of good will from clients towards Heritage Investments.

What were the most important factors you were looking for in an investment partner?

Putting the clients first and being vehemently independent, with no conflicts of interest. Also making sure we were feeling connected to the investment process, well informed and treated like important clients. We see Chris and Kevin every six months who give us an investment update and the rationale for why they are holding or changing different funds etc. In addition to this face-to-face contact, we get back office support and market updates through email. The whole service is seamless.

In three words or phrases, how would you describe IBOSS?

Dependable. Principled. Accomplished.