Founded in 2016, P1 Investment Management. is an innovative and entrepreneurial discretionary fund manager (DFM), offering investment services to around 25 financial advice firms and several institutional investors.
After using third-party platforms for several years, P1 found that they were struggling to connect to the tools that they and their network of advice firms use daily.
‘We thought there must be a better way for a platform to link up with the huge universe of different financial planning tools, without actually providing them itself’, says P1 CEO James Priday.
‘Lots of platforms try to be all things to all people, by providing a full spectrum of tools that an adviser might want to use. But they struggle to integrate with the tools they actually use already.’
‘When coupled with the fact that we wanted to control the onboarding journey, it was clear we had to look for a different solution. And that was to create a platform ourselves – one that was built around our needs, and those of the third-party advice firms that we work with.’
By using Seccl’s outsourced custody, trading and settlement solution, together with its professional client management portals, P1 has been able to develop its own platform to better manage its investment models.
But the platform has also given the firm another way to support the financial advisers it works with, too.
‘It’s quite a big thing for us as a business. It allows us to actually help advisers build efficiencies in their business, just via the use of our own platform.’
P1 has 7 advice firms lined up to use its platform – providing another valuable revenue stream for the ambitious, fast-growing business.
‘Seccl is a small firm – and we really like that’, said Priday. ‘It felt like a real partnership – where we could really shape and control the experience we were building; rather than just engaging a third-party technology provider, which just wouldn’t have worked for us for a company of our size.’
‘And Octopus coming on board has brought a new dynamic, too, allowing us to really drive forward at pace.’
P1 founded by James and team
Assets under management
Advice firms using its DFM models
Firms using or soon to use its platform