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Fortnum Financial Advisers principal Ray Miles has joined with mortgage industry veteran Mark Bouris to move into the separately managed account (SMA) and individually managed account (IMA) markets via a universal managed account platform.
The pair announced today that Bouris, via his Yellow Brick Road wealth management firm and Miles via Fortnum, had issued a joint request for proposal document to investment platform providers inviting them to submit bids by mid-February.
They said they were specifically seeking a universal managed account investment platform in order to provide both IMA and SMA solutions to clients.
The joint statement said the two men believed that by working together in their search for an investment platform provider they could attract a competitive bid and provide the best option for their clients.
“After discussing our goals with Ray and the Fortnum team we realised that we were searching for a very similar solution,” Bouris said. “We see that there are many new ideas being advanced by investment platform providers, and we wish to select a long-term partner to build the best possible UMA service for our clients.”
