Partner Insight: Andy Bennett, director of Hartcliff Financial Planning and Serena Van der Meulen, director at Van der Meulen Associates met recently in London to discuss the topic: 'Adviser approaches to outsourcing.'
Talking to Square Mile's Alex Farlow, Head of Risk Based Solutions research, in the video above - the fourth in a series of five - Bennett and Van der Meulen outline the merits and challenges of outsourcing.
Serena Van der Meulen says: "I fully outsource. The merit of that is time, as I don't have time to research individual funds. I use two research fund houses and cross-reference the research there on holdings, but then I rely on the managers to pick stocks. The other merit of course, is their level of expertise in the field. I am not a fund manager, but a financial planner. I wouldn't risk picking stocks. I can't think of a downside."
Andy Bennett says: "I outsource 100%, and the main benefit of this, is that outsourcing gives me the time to spend more time with my clients in face-to-face meetings planning. They expect me to provide a really good solution and method of getting to where they need to be. I couldn't do this, if I was researching funds and building portfolios for clients on an individual basis.
"I don't have the time and resources and it is not something that clients' value. So outsourcing allows me to give the time to spend time with clients. With outsourcing to a multi-manager, my client's portfolio is re-balanced as soon as it is needed, in relation to their risk tolerances."
