FASA 2024
Investment Provider

Investment Provider

The past 12 months have seen a couple of investment managers claw back their five-star ratings, after a record low last year of just six five-star winners.

But the number of four-star winners in 2024 has shrunk to just six, from 12 in 2023 — suggesting a tougher year all round amid persistently sticky inflation and a year of elections throwing a pall of uncertainty over many investment markets.

It may also be indicative of the continued shift from advisers away from picking individual funds towards discretionary managed and model portfolios, as well as natural attrition thanks to another strong year of merger and acquisition activity.

Advisers scored managers on a range of metrics, including speed of money transfers, providing key features documentation, quality of documentation provision and ease of setting up investment portfolios.

They were also marked for the quality of their central processing.

Companies were scored for the quality of their existing business, which includes access, approachability, accuracy, speed of response, regular savings plans and the speed and quality of surrender quotations on bonds from a central or head office site.

The companies awarded five stars this year are the ones that have managed to keep service at consistently high levels during these challenging times.

No stranger to this category is Octopus Investments, a company that has appeared in the list of five-star winners for 12 years in a row.

According to the company, Octopus Investments is “on a mission to invest £50bn in the people, ideas and industries that will change the world”.

Another familiar face in this category is Quilter and sister company Quilter Cheviot, which has had similar success in recent years.

A Quilter spokesperson said: “All our products and services are designed to support any adviser business model and evolve to meet the changing needs of clients. We equip advisers with the tools they need to grow their business, knowing good financial advice leads to better customer outcomes.”

Cash Investment Provider

The need to keep savings readily available is part of good financial planning, especially in a year when savings providers have been keen to offer competitively high interest rates.

Even though inflation has come down since 2023, the stickiness of it makes the selection of a cash investment vehicle more important than ever.

Clients expect to see the corrosive effects of inflation on their cash savings minimised as much as possible.

And the providers of cash management services that have done a fantastic job and offered five-star service will have been richly rewarded during this period.

Sadly fewer now, with some providers having left the market, it is pleasing to see a strong range of five and four-star winners in this category.

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