The technology that runs investment platforms has advanced dramatically over the last couple of decades. But many household-name investment companies have been unable to keep up. Legacy issues that require cumbersome paper processes have created administrative headaches that are costly to fix and difficult to explain to clients.
We have built our platform from scratch unincumbered by outdated, clunky technology that costs a fortune to maintain.
We are better able to make meaningful enhancements, integrate with other important technology systems quickly through open APIs, and provide advice firms the ability to white label the platform in their own brand.
We integrate with these services
Paperless Case Study: Corrival
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
A paperless platform allows you to focus on your business
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. A critical requirement 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 intuitive 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 us to drive price down, helping Corrival build the business they want without adding to their own or their client’s costs.
- Partnership; anyone starting a new venture needs support from people they can trust. Corrival needed a partner that understood their business, their ambitions, and their values. And importantly, they needed a partner that would provide efficient, reliable, and expert assistance.
Paperless combined with Price
Corrival adopted the P1 Platform as its investment solution. The paperless onboarding and ongoing management of clients has meant that Corrival was able to avoid added layers of cost like outsourced admin, recurring CRM subscriptions, and the considerable cost of Nick’s time for unnecessary administrative tasks. This, combined with the low price of the platform, enabled Corrival to pass on the saving to their clients, making their service better value for money.
In addition to using the P1 Platform, Corrival was set up as a trading style of P1. 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 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, 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 partnering with P1, Corrival had £1m AUM, passing through £4m by the middle of 2020.
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“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.”