Atomos Investments

redmalc

Good Evening All

My IFA is advising me to switch all of my current investments from the Quilter Platform to Atomos Investment platform , I have never heard of Atomos and am asking if anyone has had  any dealings good or bad with Atomos

bompey

Atomos used to be known as Sanlam, but I’m not sure if the Atomos service you mention is just a platform or that they manage your money.
For what it’s worth I used to be with Sanlam for managing my portfolio however i was also got involved with helping my parents and I found that their provider outperformed Sanlam in the up years and also in the down years so I’ve switched. 

Marcon

redmalc said:

Good Evening All

My IFA is advising me to switch all of my current investments from the Quilter Platform to Atomos Investment platform , I have never heard of Atomos and am asking if anyone has had  any dealings good or bad with Atomos

Have you asked why? And what the value of doing so is to your IFA?

Pat38493

Also make sure you are using an IFA and not an FA, and make sure that the IFA is not retiring or somehow existing the business and handing over all their business to Atomos as this seems to be a loophole that allows them to hand over all their business in a way that might not be arguably in your interests - would advise you get more details about why they want to do this.

dunstonh

My IFA is advising me to switch all of my current investments from the Quilter Platform to Atomos Investment platform , I have never heard of Atomos and am asking if anyone has had  any dealings good or bad with Atomos

Are you sure its an IFA?   Atomos is the old Sanlam and used by their in-house FA/sales reps.  I don't think their product is available to IFAs.

Quilter is a whole of market platform.  They too have in-house sales reps/FAs but they make their product available to IFAs as well.   Being whole of market, the only reasons to move away from Quilter would be to a lower cost platform or a preference on software functionality.   So, a reason for moving away from Quilter would be quite specific.

An IFA has to justify why they are moving platforms and if the cost is higher, why its better.  An FA/sales rep has a lower justification requirement as they sales reps of their own product.  They don't have to consider the whole of market.
I cannot see Atomos appearing on the IFA research tools we use.

Is he one of the people on this list:  Meet The Financial Planners Team | atomos
If so, he isn't an IFA.

redmalc

Thanks for all of the comments, 
Dunstonh , yes he is on that list

dunstonh

Research has found that over half the people seeing an FA think they are seeing an IFA.   So, you are not alone.