March 10, 2021
Preservation Capital Invests in Parmenion, provider of investment services and technology solutions for financial advice firms in the UK.
Founded in 2007, Parmenion offers a differentiated and integrated solution including platform technology, custody and discretionary fund management service.
Martin Jennings, CEO of Parmenion, said: “Parmenion has enjoyed strong growth in recent years, and we are delighted that Preservation Capital has recognised the potential in our business, and share our future vision. Their belief in us, our teams and what we deliver every day to advisers and their clients means there is total alignment of interests, and we are genuinely excited about our future.”
Andrea Secci, Principal, Preservation Capital Partners, added: “We are extremely excited to be supporting Parmenion and its management team, led by Martin Jennings, in its next stage of growth. The adviser platform sector is one of the most attractive sub-sectors within the UK wealth management industry, experiencing strong organic growth on the back of increased regulation and strong demand for seamless, customer friendly, integrated digital wealth management services from both financial advisers and savers. Parmenion is a leader in the sector in terms of customer satisfaction and growth track-record. We believe the business has built a sustainable competitive advantage, turbo-charged by a strong management team, cohesive and client-centric corporate culture, powered by proprietary technology, delivering an offering that has consistently been ranked by its clients as one of best in the UK over the last 5 years.”