The paperless investment manager

a case study on self employed investment manager, Nick Skelhorn and Corrival Capital Management

2 minute read

Corrival Capital Management was set up in 2019 by Nick Skelhorn, an investment director and regional head with over 25 years of industry experience creating investment solutions for professional and personal clients.

Nick built his career and experience in large well-known national investment firms. At the same time, he was developing strong relationships with his client base. Owning and managing the relationships that he’d spent years cultivating was a driving force behind Corrival, also, crucially he wanted to get back to managing investments not managing an office.

New companies need the right foundations

Setting up a business as a self-employed investment manager requires consideration and a few key elements to be in place for it to work. Critical requirements for Corrival was that any software or support had to allow them to focus on the core business, managing clients’ investments. Three factors came to light:

  • Paperless; if you’re going to be managing all your clients, their onboarding, transfers and accompanying administration, a paperless, efficient and easy to use system is vital.
  • Price; core to Nick and Corrival was providing traditional investment management with real value for money. Price is fundamental to Corrival and P1, being paperless allows it to drive price down, facilitating Corrival to build the business they wanted without adding to their or their client’s costs.
  • Support; anyone starting a new venture needs support, on every level. While Nick wasn’t looking to P1 for emotional support, Corrival needed a partner who would provide quick, efficient help.

Paperless combined with Price

Corrival adopted the P1 Platform as its investment solution. The paperless ease of onboarding and managing clients has meant that Corrival was able to avoid added layers of cost like outsourced admin or ongoing CRM subscriptions, or the hidden cost of using Nick’s time for admin. This, combined with the price of the platform, facilitated Corrival passing on the saving, making their service real value for money.

In addition to using the P1 Platform, Corrival was set up as a trading style of P1 Investment Management. As a trading style, it falls under the regulatory umbrella of P1, allowing Nick to leverage P1’s compliance and support functions, letting him get on and grow his business. The partnership also means that Nick joins and contributes to the P1 Investment Committee Meetings, allowing him and the P1 investment team to benefit from each other’s experience and knowledge.

How it’s worked

Since Corrival partnered with P1 Investment Management, it has grown from strength to strength, seeing growth in both private client and financial adviser sides of the business. Within a few months of starting Corrival, had £1m AUMs, passing through £4m by the middle of 2020. Hear from Nick:

“As an investment manager who provides services to clients and financial advisers, adopting the P1 Platform and its paperless systems have enabled us to significantly reduce the cost of taking-on and managing clients, mainly due to its digital client onboarding and reporting capabilities. Unusually for this industry, instead of pocketing the difference for ourselves, we took the decision to pass these cost-savings on to our clients by reducing and capping our management fees. We’ve found the platform is well designed, providing an intuitive on-the-go experience for professionals like myself, and, importantly, my clients. The support from the P1 team has been great at every step.”