Parmenion - any one used them?

suziewuzie

Hi

I've been to see an IFA and he has suggeted my OH & I put money in a S&S ISA using Parmenion. Has anyone any experience of them? Thanks in advance.;)

suziewuzie

Just bumping this up in the hope of a reply!

dunstonh

It appears they offer a discretionary investment management service. There are very split views on whether this offers good value or not. Typically geared to larger investors (£500k plus) who want very hands on investment management (the investment manager is free to trade without your permission as they see fit, within your risk profile - unlike an IFA who has to get your permission first and will not be so active and will rely on funds instead).

A good discretionary investment service will use quoted stocks and where funds are used,they will use institutional versions. They then add their charge on top. The bad ones use retail funds which just creates a second layer of charges and wipes out the benefit.

The average person has no need for discretionary service. They dont need active investing to that level. Just periodic reviews and updates. However, if it is what you are after then the above should give you a few questions to ask. I know an IFA that puts virtually everything via a discretionary service and he swears by it. Some of his arguments in favour are valid and make sense. However, I have yet to find one that adds value to their level of charges and you do have to take that into account.

There is no right or wrong here. Investing and methods used are all about opinion. Some will swear by some methods whilst others wouldnt go near. I have no personal experience of this company so dont know what they are like.

suziewuzie

Thanks for the information dunstonh. Off to do some more reading and thinking! Cheers again.