Accounting for around Â£500 million of its total Â£8.1 billion of funds under management, TPWM values its Master Account IFA partnership business. âOur IFA partners are very important to us,â explains John Phelan, operations director for TPWM, âMaster Account has been developed by MBA to enable us to partner IFAs in providing the best possible investment solution for their own clients.â
In addition to the funds under management with TPWM, Master Account enables IFAs to capture all other investments that their clients hold, from property to fine wines and from art to racehorses as well as financial products outside of TPWMâs management such as savings accounts and pensions. This enables an IFA to have a complete picture of their clientsâ total wealth and asset distribution, which equips them to manage accounts more effectively. Each client is able to share the same view of their account with their IFA when seeking advice over the telephone. Furthermore, the report is branded with the IFAâs full corporate identity.
Investing with TPWM provides IFAs with a range of 7 asset classes. When viewing a portfolio online with Master Account, the current value of the assets under management with TPWM are shown as well as other details, including a full transaction history.
TPWM received a very positive response from its IFA partners following the piloting run of Master Account. âThey particularly like the way it is presented and the richness of the client reporting. Having a single picture of each clientâs complete asset base has been tremendously well received,â says Phelan.
IFAs interested in becoming a partner with TPWM should contact the firm. New IFA partners are accepted following the successful completion of due diligence.
MBA Systems, which undertakes all internet service development for TPWM, also hosts Master Account at its purpose-built data centre, which has been constructed to deliver âtier 1â levels of security as required by the financial services industry.