Case study #7: Mark Perkins of Collperkins

Case study: Mark Perkins

Mark Perkins is a Chartered Financial Planner and the founding director of Collperkins.

How long have you been using IBOSS?

We started to use IBOSS at the end of 2013.

We had acquired a client bank where most of the assets were held on the Old Mutual platform. However, we were unhappy with the way they were invested.

As financial planners, we don’t believe we should be building portfolios or selecting funds and are happy to call in experts to do this work for us. After a due diligence process, we agreed to work with IBOSS.

What services do you use?

Initially, we started using the IBOSS Portfolio Management service.

Since then, however, we have moved on to using the OEIC, which IBOSS launched in 2016. The OEIC was a godsend to us. It’s meant we can access IBOSS on almost any platform rather than be restricted to only Old Mutual.

Are you using IBOSS as part of a formalised Centralised Investment Proposition?

Yes, they form an important part of our investment strategy and proposition.

Alongside a couple of complementary options, IBOSS are our active managed solution for on platform business.

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

There were many, however three stand out:

1. Diversification: It was important to us that the investment management team are selecting funds or stocks which genuinely diversify the overall portfolio. IBOSS certainly accomplish that aim, in part, by ensuring that the holding in any single fund is capped at 4%.

2. Cost: Historically, fund of fund solutions tended to be quite expensive. Furthermore, we know that costs are guaranteed but performance isn’t. Consequently, if we can get costs down as low as possible without affecting strategy and returns, the client benefits. We are pleased that IBOSS has reduced costs by using some passive strategies. However, at its heart, it remains a fund of funds, multi-asset solution.

3. Investment philosophy: As we got to know IBOSS we soon realised that our philosophies were aligned. You can always find funds or portfolios that outperform, the big question is how much risk they have taken to achieve that outcome. To put it another way; how lucky have they been? This is where IBOSS really impresses; outperforming their peers while taking less risk than the benchmark and protecting the downsides, something which is important to us and our clients. They have the courage of their convictions too; they believe what they believe and stick to it. And it’s served clients well.

How have your clients reacted?

Clients are very pleased.

They like the quarterly updates and for clients who use the Portfolio Management Service nearly always return their updates, showing how engaged they are with the service.

In the four years we’ve been with IBOSS we’ve never had to worry before a review meeting or had an uncomfortable conversation with a client.

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

From our perspective, IBOSS removes the stress and worry. We aren’t investment managers, we are financial planners.

When it comes to clients there’s a misconception that clients are interested in the nitty-gritty. In our experience, they don’t care about the details. However, they do want to know that the investment choice will meet their objectives and at a fair price without shocks and surprises along the way. IBOSS achieves all these things.

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

1. They do what they say they will

2. They stand by what they believe

3. They provide very acceptable returns for the risk they are taking