STEP has renewed its contract with Enhance to provide the Managed Portfolio Indices (MPI) as a STEP member service for a further four years. This follows the recent news that Enhance has attracted a trio of investors into the business to help grow and develop the MPI service.
MPI is offered free to STEP members and provides information on over 55 wealth management firms, including performance, risk and asset allocations, as well as qualitative data about each firm and what it does.
Enhance, working closely with STEP, will be making some significant improvements to the MPI service over the next few months, which will include online reports, more information about each manager’s capabilities, and tools to help members construct investment policy statements and proposals. The new system will be rolled out from September.
To coincide with this, Enhance is running CPD sessions for STEP members who would like to use the new features.
To register your interest please send an email to firstname.lastname@example.org
Enhance to launch new MPI website
Enhance MPI are delighted to announce that they have engaged Point Group, the consultancy and platform solutions provider, to deliver a new website for their MPI service. MPI is available to STEP members and other professional advisors and aims to promote transparency and dialogue between advisors and investment managers. The new website will offer a range for tools and reports to help advisors find, select and engage with the 55 managers who currently contribute to MPI.
James Hoare, MD of Enhance MPI, said “We selected Point Group as we were impressed with their depth of experience and innovative approach in delivering financial technology solutions. We felt that they were a great fit for us and we look forward to working closely with Tom and his team.”
Established in 2017, Point Group is a strategic consultancy, technology provider and financial services innovator who specialise in the effective operation of private banks, family offices, asset and wealth managers.
Tom Williams, CEO and Founder of Point Group, added: “We are delighted to have this opportunity to work with the Enhance team on the evolution of this valuable service, which will further enhance the collaboration between advisors and wealth managers and support them in their investment choices.”
Enhance expect the first release of the new MPI system to be rolled out in the Autumn with further enhancements following later in the year.
Enhance announce expansion of Managed Portfolio Indices Service
Enhance have announced a significant expansion of their Managed Portfolio Indices service, MPI, through securing a number of strategic investors who have acquired a majority interest in the business. These include ex C. Hoare & Co Wealth Management heads James Hoare and Annamaria Koerling, who is now Partner of Owl Private Office, together with Andrew de la Haye, Deputy MD of First Names Group, Jersey. James Hoare has been appointed as Managing Director of Enhance (MPI) Ltd.
MPI helps connect advisors and wealth managers by providing a transparent and common understanding of their investment choices. Enhance launched the Indices as a STEP Member Service designed to provide performance benchmarks specifically for portfolios managed on behalf of persons acting in a fiduciary capacity. The service currently has 55 contributing managers based in Canada, the UK, Switzerland and Singapore who contribute performance and asset allocation data across a range of strategies.
Enhance CEO Tom Wiseman commented: “We are delighted to have the opportunity to work with such experienced professionals to help to build MPI into a truly unique and independent service.”
STEP Chief Executive George Hodgson said: “We have been pleased with the continued worldwide take up of the Indices, which provide our members with much-needed clarity on investment risk and return, and look forward to the further evolution of this important STEP Member Service.”
James Hoare commented: “We see significant demand and benefits in helping bring advisors and investment professionals together and I look forward to working with Tom and his team to realise the full potential of this service.”
Further information can be found on the Managed Portfolio Indices website www.mpindices.com
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