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Providing you with the latest insights and independent opinion from Square Mile.
The primary value of the strategic asset allocation (SAA) models appears to be as an objective tool that can be used within a suite of financial planning products. Such a financial planning suite may include tools to determine:
In our opinion the SAA models that we have reviewed will perform a satisfactory role in meeting the needs of investors though advisers should be aware of the possible limitations of the approach.
As your business models evolve in the post-RDR world, and your financial planning processes continue to undergo improvement, Square Mile observes that many centralised investment propositions rely on the use of third-party strategic asset allocation tools.
Risk profiling tools have done a great job of aligning funds in a consistent manner across the market and have provided a framework for advisers to manage client expectations – the ‘apples with apples’ philosophy. However there remain a number of challenges, that have varying levels of implications, that one must be aware of within the process. The following discusses some of these.
The purpose of an investment committee is to oversee the group investment strategy from a number of perspectives and to ensure that the best interests of both the business and its clients are at the core of all investment activity. This might range from the selection of suitable attitude to risk and stochastic modelling tools to strategic and tactical asset allocation and fund selection. For many groups, the de-risking and operational efficiency of Centralised Investment Proposition has brought a new perspective in the regular oversight of third party or sub-advised services.
Bespoke managed portfolios:
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