Radiant Financial Group - For your brighter future
A guide for new employees
Message from our CEO-Simon Cogman-Hellier
Our Brand Values
Introducing the Radiant Team
Current group geography
Radiant Group – statistics
Radiant Financial Planning Limited
Radiant Platform Management Limited
Radiant Asset Management Limited
Message from our CEO - Simon Cogman-Hellier
Radiant operates as a holistic firm of independent financial advisers and benefit consultants, providing all available services to companies, their owners and employees as private clients.
We are a client-centric business. Our purpose is to understand the financial position of our clients, their aims, ambitions and their appetite for risk and deploy appropriate solutions in a compliant and riskmanaged structure, maximising efficiencies in all taxation frameworks.
But most of all we are a staffcentric business. We believe that well trained, well-resourced and well remunerated staff who work for an organisation with integrity — which genuinely cares about its people — provides the best environment for their success and therefore the success of our business.
We want to be the preferred choice for like-minded, clientcentric businesses, particularly those who have reached a certain stage in their development and need both funding and scale to fulfil the next part of their development.
As such, we are an attractive platform for business owners who may be looking to partially de-risk
their investment in their businesses but are equally committed to growing their residual investment in a collaborative environment with like-minded individuals. For these reasons we do not have a formulated acquisition plan based on geography or size of target business, but rather an opportunistic plan relating to people with a shared culture and vision.
Everything we do relates to people, and in particular their health and well-being; this starts with our own people and is of course the service that we offer to our clients – as financial wellbeing sits at the heart of a productive, stress-fee life for all.
Therefore, Environment, Social Governance (ESG) naturally sits as part of our business DNA. We are mindful of our impact on people, their environment, culture, personal preferences and manage all of this with a strong focus on the governance of our business.
As we continue to expand our business through acquisition, we are focussed on a number of key areas:
• Ensuring our clients, wherever they are located in the UK receive an exceptional service, consistent across our Group, in line with Consumer Duty
Simon Cogman-Hellier CEO
and reflecting our core values
• Our staff are treated fairly and equitably. We are mindful that being acquired can be unsettling to say the least. Our teams focus not only on the training and induction of the teams to the Group, but their social and mental well-being
• Our new office infrastructure is consistently being brought into line with Group Policy on emissions, recycling, water usage using existing offices, where this can be achieved, or moving to more sustainable premises where this is a better alternative
• We continue to work, right across the UK, on a hybridised basis depending on employee choice, reducing travel emissions but also providing each member of staff with the opportunity to define their work/life balance
• We have recently introduced flexible working hours including an early finish on Fridays.
I am delighted that you are joining the Group and wish you every success as part of our amazing team.
platform management
An environment which combines all client investments under one open architecture platform.
A specialist provider of financial planning, tax planning and business consultancy services.
asset management
A Discretionary Fund Manager, taking an innovative approach to clients’ investment solutions.
Everything we do relates to people, and in particular their health and well-being
The Radiant Financial Group
Our brand values
Radiant Financial Group is a national firm of financial advisers, employee benefit consultants, investment platform and investment solution providers.
We have developed into a national business by combining exceptional local and regional businesses into one organisation. Our clients feel the benefits of our scale, scope, governance and resource, whilst keeping local access to exceptional financial planners and their teams. Our PPS team sits as a national veterinary specialisation in the heart of our Group.
Our values were created by our staff and remain reflective of how we want to conduct ourselves across everything we do, both now and into the future.
ESG naturally sits as part of our business DNA. We are mindful of our impact on people, their environment, culture, personal preferences and manage all of this with a strong focus on the governance of our business. At Radiant we have over the last four years used this period of change as a catalyst to rethink everything: how we did our jobs, how we run the group from the social aspects and the environmental impacts the changes we were making had.
In adopting the hybrid working, changes in meeting formats and office space we have seen
a huge reduction in our carbon emissions, which is something we are proud to have achieved and a major success for the group
As we grow it is fundamental to our success to have not only have an operating and measurable ESG policy across the group but also a meaningful policy, which every staff member embraces. Our aim is to ensure we operate in an ethical manner, reduce our carbon footprint year or year continue to work in line with government targets in protecting our planet.
Inspiration
Show enthusiasm
Enjoy what we do and be creative. Be inspiring in our work with clients, partners and colleagues.
Innovation
Lead, don’t follow
Forward thinking, always looking improve on what we do for the benefit of our clients.
In Touch
Be there
There for our clients, and collaborative with our professional partners. Always with our ‘finger on the pulse’, knowing our industries inside out.
Integrity
Do the right thing
Be thoughtful, open, honest and respectful at all times, in everything we do – from clients, to partners and colleagues.
Introducing the Radiant Team
Radiant is run by a team of highly experienced industry leaders, who are passionate about client-centric advice and exceptional delivery and we are delighted to introduce you to the team who will be involved in your transaction.
Management team
Executive team
Simon Cogman-Hellier
Chief Executive Officer
Simon is CEO of Radiant Financial Group and is responsible for group strategy, risk oversight, funding and group brand. With over 43 years’ experience in the sector, Simon has run many organisations focused on the delivery of excellent advice to clients, both corporate and individual. During his career, Simon has been involved with acquisition and integration of over 100 businesses in the financial services sector. Simon is passionate about a staff-first culture and leads this development within Radiant. Away from work, Simon and his husband are renovating yet another house on their farm in Cheshire and are devoted to their large family of dogs.
07969 020827
simon@ radiantfinancial.co.uk
James Cumming Chief Financial Officer
James joined Radiant Financial Group in Sept’20 following 8 years, 6 as Group CFO, at Complete Cover Group, a PE backed vertically integrated Insurance group that he oversaw the sale of in early 2020. Whilst there James oversaw two acquisitions and two disposals. Prior to this, James spent 10 years at EY, specialising in advising clients on transactions in financial services and qualifying as a Chartered Accountant. Since joining Radiant, James has been responsible for overseeing the development of the Finance function, as well as raising external debt facilities to enable the group to execute its acquisition programme. James is also heavily involved in the due diligence phase of acquisitions, overseeing the Finance workstream. Outside of work, James is a keen cyclist and runner, and has two young boys that keep him on his toes.
07876 403086 james @radiantfinancial.co.uk
Samantha Darbyshire EA to CEO and Head of Marketing
Samantha joined Radiant Financial Group in 2021 as Executive Assistant to the Group CEO. Responsibilities also include leading the Group Marketing function. Prior to joining Radiant Financial, Samantha worked in financial advisory services for the previous 10 years as the Executive Assistant to the Founder and as Office Manager. In her early career Samantha was an Account Manager for an IT Distributor before having her family. In her own time, Samantha has a busy family and social life. She enjoys both playing and watching sport - and walking with her pet dog
07736 963820 samantha@ radiantfinancial.co.uk
Management team
Central services
Alan Hopley Head of Financial Planning & Analysis
Alan joined Radiant Financial Group in Feb 2021. He previously worked as head of FP&A at Addison Lee Group, where he developed and supported the business through its sale process and subsequent bank led takeover in March 2020. Prior to this he has held senior financial planning roles as The Regard Group, Complete Cover Group and Bupa. In his spare time Alan loves an adventure, whether it be hiking or camping in the countryside with his wife, children and dog. He is also a keen lover of rugby and golf.
07779 231157
alan.hopley@ radiantfinancial.co.uk
Meg Lang
Head
of Human Resources
Meg joined Radiant Financial Group in August 2021. Having developed her career through our Radiant Academy, she now heads up our Human Resource Function for the group. Meg is CIPD qualified and boasts a First-Class Honours Degree in Business Management. Prior to joining Radiant Financial, Meg worked at BT Group and her Family’s business supporting its management of day-to-day operations. In her own time, Meg has a busy family life frequently travelling to her hometown of Plymouth or to Manchester to watch football matches. She enjoys watching sport regularly and walking her dog.
07736 963820
Megan.Lang@ radiantfinancial.co.uk
Sam Pinnock Head of M&A
Sam is the Head of Mergers & Acquisitions at Radiant and is responsible for overseeing and sourcing the various acquisitions which the firm undertakes as part of its growth strategy. Sam has over 10 years of experience in the financial services sector; starting his career at KPMG, where he qualified as a Chartered Accountant. This was followed by a move to a top 30 commercial insurance broker, Clear Insurance Management, supporting its M&A strategy. Outside of work, Sam is passionate about sports and has completed the London Marathon and London to Brighton bike ride, whilst raising money for the Rays of Sunshine and the British Heart Foundation charities in the process.
07714 766488
sam.pinnock@ radiantfinancial.co.uk
Rob Taylor Group Compliance Director
Rob is Group Compliance Director and is responsible for regulatory compliance across the Radiant Financial Group. Rob joined the Radiant Financial Group in October’20 with 20 years compliance consultancy experience, most recently with The Consulting Consortium where he was a senior consultant and had worked with more than 50 firms operating in the retail advice and asset management sector including a number of national acquirers. Rob is focused on delivering good consumer outcomes. Outside of work, Rob loves to travel, bike ride and explore the local countryside with his partner.
07736 953165
rob@ radiantfinancial.co.uk
Management team
Radiant Financial Planning – our retail business
David Edwards
Managing Director
David joined Radiant Financial Group in June 2021 as a NonExecutive Director, becoming Group Chief Risk Officer in September 2022. In April 2023 David became a member of the Radiant Group Board and was also appointed Managing Director of Radiant Financial Planning. David’s previous experience includes 5 years as Chief Risk Officer at IFG Group Plc, an Investment Platform and Financial Advisory business. Prior to IFG David was Group Risk Director at Capita Group Plc. David qualified as a Chartered Accountant at PWC. With a young family and an opinionated dog, David’s free time is spent enjoying the great outdoors as much as possible
07939 958706
david.edwards@ radiantfinancial.co.uk
Abi Fryer Chief Of Staff Radiant Financial Planning
After a successful early career spanning the hospitality and then the recruitment sector
Abi switched her focus to the Financial Services sector, joining Radiant Financial Planning in 2022 as Executive Assistant to the Managing Director. In July 2024, Abi took on an additional brief as Chief of Staff for the business, reporting to the Managing Director. Abi works as a key member of the Senior Management Team to help scope and manage the smooth delivery of all key strategic projects. In Abi’s spare time she enjoys travelling to new countries and walks in the countryside with her dog.
07534 101198 abi.fryer@ radiantfinancial.co.uk
Chris Lomas Financial Planning Director
Chris joined Radiant Financial Planning in May 2023. He leads the front office advice teams across Private Client, Corporate advice and Mortgages. Chris has operated in the wealth management sector for around 30 years, having spent much of his early career as a financial adviser before moving into leadership roles. He has significant leadership experience having lead advice teams in several major PLCs and most recently he was a key member of the team which set up Schroders Personal Wealth. Chris lives in York with his wife and two boys. Outside of work Chris is heavily involved with his youngest son’s football team and the family like to spend time at weekends getting out and about hiking in the Yorkshire Dales.
07967 564521 chris.lomas@ radiantfinancial.co.uk
Sophie McLoughlin Head of Operations
Sophie is Head of Operations at Radiant Financial Planning Limited and oversees the day-to-day operations of the Client Delivery and Paraplanning teams along with optimising the business’s core processes to improve efficiency and client service. Sophie has been in the IFA industry for over 14 years joining one of Radiant’s foundation businesses, PPS in 2014. She is passionate about empowering the Client Delivery and Paraplanning teams to develop their skills and knowledge to provide the best service and outcomes to our clients. Outside of work Sophie enjoys walking with her two young labradors and is a regular volunteer at her local Scout Group.
07766 147714
sophie.mcloughlin@ radiantfinancial.co.uk
Management team
Radiant Platform Management and Radiant Asset Management – our wholesale businesses
Greg Klar
Operation and Compliance
DirectorRadiant Platform Management
Greg is the Operations Director for our platform company, Radiant Platform Management. Greg has held a variety of operational roles across a number of different investment platforms throughout his 15-year career to date. Greg joined our team in September 2022 and is keen to help shape our platform’s proposition so that it remains aligned to the needs of our planners and clients that use it. Outside of work, Greg spends most of his time trying to keep up with his energetic toddlers at home in Edinburgh.
07752 394351
greg.klar@ radiantplatform.co.uk
Minesh Gajjar
Managing Director and Chief Investment Officer
Radiant Asset Management
Minesh is CIO of Radiant Asset Management (RAM), the Discretionary Fund Manager within Radiant Financial Group. As CIO and MD of RAM, Minesh is responsible for delivering RAM’s investment solutions to Radiant Financial Planning and their private clients. He has over 24 years of experience in financial markets having begun his career during the tech boom in 2000. His career has spanned product management, investment research and fund management, and he brings a breadth of experience delivering investment solutions to private wealth clients. He was previously global head of the discretionary proposition at HSBC Wealth and has held senior investment roles at Coutts & Co and Nedgroup Investments. Minesh is a member of the CFA Society and holds the CFA qualification. Outside of work, Minesh spends lots of time keeping fit playing sports, and spending time with his wife, 2 children and his labradoodle.
07984 540376 minesh@ radiantasset.co.uk
Apiary Capital is a lower mid-market private equity firm. Apiary invests in platform companies management teams to accelerate growth through roll -ups, roll-outs, and strategic acquisitions.
Our partners
Apiary Capital
Apiary Capital is a lower mid-market private equity firm. Apiary invests in platform companies management teams to accelerate growth through roll -ups, roll-outs, and strategic acquisitions.
Apiary Capital is a lower mid-market private equity firm. Apiary invests in platform companies management teams to accelerate growth through roll -ups, roll-outs, and strategic acquisitions.
Apiary Capital is a lower mid-market private equity firm. Apiary invests in platform companies in attractive markets, and supports management teams to accelerate growth through roll-ups, roll-outs, and strategic acquisitions.
“ We are immensely proud of the progress that Radiant has made since our initial investment in 2020 and remain excited about the future of the business.
The business’ client-centricity, clear focus in compliance and staff-first culture have remained strengths as we have grown, and in our opinion continue to set Radiant apart from other consolidators in this sector.
Radiant represents an extremely positive option for IFA business owners who need funding and scale to fulfil the next part of their journey, and we look forward to having a number of quality businesses join the Group in the years ahead.
Jeniv Shah, Partner, Apiary Capital
The business’ staff-first and in Radiant represents owners their journey, Radiant and
The business’ staff-first culture and in our Radiant represents owners who their journey, and Radiant and remain
The business’ staff-first culture and in our opinion Radiant represents owners who need their journey, and
Current group geography Acquisition strategy
Our Group has developing national ambitions, managed through five regions, with hubs in each region.
Whilst we will always buy businesses based on their cultural and strategic fit with the group, our clients and our team, our aim is to develop further our five regions to ensure that we have appropriate national coverage to provide a “local” service to our clients.
In addition, we have a division which nationally covers our Corporate and Financial Education services to clients for the entire Group.
Midlands and Wales
• Birmingham
• Market Harborough
• Swansea
South West
• Barnstable
Scotland
• Aberdeen
• Perth
• Glasgow
• Edinburgh
North
• Doncaster
• Oldham
London & Home Counties
• London
Group structure
Wholesale Operations
Retail Operations
Group Governance
• Our Group is split into two distinct parts, namely the Wholesale and Retail Operations.
• The retail part of our group interacts directly with and advises our clients as Independent Financial Advisers.
• The wholesale part of our group manufactures products (investment platform and investment funds) which are distributed to our clients via the retail part of the group.
“ When choosing the home for the future of our business, in particular for the clients and the staff, it was essential that the acquirer’s values were aligned to ours. It was also essential that those within the business were given the opportunity to thrive and grow in the new environment.
I am pleased to say that as well as making the sale happen as seamlessly as possible that it was equally as important to Simon and his team at Radiant that the aspirations for the future of the business and the people were fulfilled.
Our team are now extremely happy and excited about the future and being part of a truly customer and staff focused business”
Stubbs, GS Financial Services Became part of Radiant Group in June ’22
Platform Management Ltd (RPML) Radiant Asset Management Ltd (RPML)
Radiant Group – statistics
The following information is accurate as at 1st August 2024:
• Number of Offices: 10
• Total Number of staff:141
• Total Number of Planners:31
• Total Assets Under Advice: £1.7 bn
• Total Revenue: c.£15m
Radiant Financial Planning Limited
Business model
We operate a unique and successful business model, seamlessly connecting the services required for a company, its owners and employees.
By offering regulated and experienced advice in each of these areas, our clients enjoy a range of advice and services not available elsewhere:
• Most Employee Benefits (EB) consultancies are unable to provide advice to private clients
• Other IFAs do not have the expertise to provide advice
to corporate clients
• Most Wealth Management Groups have made the decision not to pursue corporate work.
The business cycle with a client can commence on any piece of work in any of the three zones, and we therefore upsell our other services from this starting point. This reduces our cost on
acquisition of new business.
Each larger corporate client has a dedicated ‘Client Director’ so they have one point of contact for all work, with specialists deployed as appropriate. Usually, the Client Director will be a Private Client specialist, controlling the business and personal relationships of the key stakeholders.
Private client
• Wealth creation, income planning in retirement, tax planning and protection
Employee benefits
• Benefitrichbusinesses
• 50 to 250 employees
• Stable employment & high averageearnings
Corporate client
Ownermanaged businesses
Professional practices:
• Veterinary
• Medical& Dental
• Accountants
• Solicitors
Advice for private clients
We address the whole spectrum of financial needs for our private clients and are not only restricted to tax and investments.
Sel actualisation
• Financial
• Using assets on their
Differ /
• Retirement
• Tax efficient savings
• Inheritance tax planning
Family
• Planning ahead & funding – marriage, property, holidays, life events, (cashflow modelling
• Tax efficient savings & investments relieving income
Growing their
• Cashflow modelling – forecasting income
• Buying / selling property – funding,
• Tax efficiency
• Selling
Protecting what
• Wills
• Life cover
• Income
• Critical
• Private medical
Release
Client Relationship Management
We offer our clients a complimentary initial consultation. After that, if a client’s needs and objectives match the advice and service we offer, we then take them through our carefully designed and structured five-step advice and service process as follows…
Introduction to our advice and service process and costs. Discussion about your personal and financial circumstances, immediate needs and long-term objectives, and understanding of investment risk.
If you agree to proceed, we will analyse your current situation and carry out research for appropriate solutions. We use this to develop your Financial Plan and our subsequent recommendations.
We will arrange a second meeting to present the recommendations contained in your Financial Plan, discuss the way forward and which plans to implement, and agree mutual commitment to proceed.
Completing the necessary documentation to implement agreed recommendations, submission of documentation to product providers, and monitoring the application process to ensure plans are put in force correctly and on time.
Regular review meetings, to monitor and review your Financial Plan to ensure the advice remains consistent with your needs and changing circumstances.
Consumer duty
Through Consumer Duty we have continued to ensure that:
• We maintain the correct segmented approach to our national client proposition, with a focus on clarity, value and consumer outcome across all three Radiant businesses
• We align our use of both in-house and third-party propositions appropriately with clarity of deployment
• We align our workflows, systems and processes to create a consistent and efficient deployment
• We review and amend all of our client literature, including but not limited to client agreements, suitability documents, technical guides, appropriately
• We create a timeline for deployment, be this by Region, by client segment or a combination as decided through this project, including but not limited to client communication, systems alteration and staff training.
Our decisions on this have been informed through our Risk and Governance matrix, overlaid with the key Consumer Duty outcomes as referenced in the diagram.
Consumer Duty
Target operating model
Our target operating model is clear and robust.
• We have a broad horizontal proposition available to our clients which we continue to develop, principally the range of services we offer to private clients, supporting our levels of recurring income, tested against our Consumer Duty delivery and market competitiveness
• Aligning all clients to our segmented advice model, uplifting recurring (dependent upon client needs) to either 0.8% or 1.00% of AUA, as appropriate
• Consolidating appropriate client assets onto our platform and our asset management proposition, creating additional income for the Group of 0.10% and 0.28% of FUM transferred
Table one
Table two
Project P Purpose
In line with our target operating model and Consumer Duty, it is clear that alignment of all clients nationally into our propositions is key to the delivery of value outcomes and consistent service, as well as the overall governance of the Group operationally.
Project P is designed to address this by:
• Transitioning clients to the proposition (see next page) that best reflects their needs in respect of the service delivery from Radiant
• Transitioning to a single platform environment, proven to provide best client value through a combination of competitive pricing, and developments enabling more seamless service to our clients, namely Radiant Platform Management Limited.
Client segments
The project commenced in Autumn 2023 and we have undertaken a significant review of progress in May 2024, leading to a change in process implemented immediately.
Service Proposition Bespoke
Private Client
• Dedicated admin support
• Cashflow
• Tax info
Service offering
Frequency/method of Client review Meetings
Portal Deployment
Valuations
Initial fees
Recurring income
Min/Max Annual Fee
• FIC
• Esoterics
• Bespoke Portfolio
• IHT Planning
• Business Owner
• Protection
• Lifetime Mort
• Complex Trusts
• Court of Protection
• Decumulation products
Up to 4 reviews per annum plus 1 meeting with sol or acct/Any additional meetings charged on transactional tariff. Teams or F2F, client choice
Client choice
Bespoke
Determined by Time based matrix
Reserve the right to charge for Architect Stage
1% on first £1.5M, 0.5% on the balance. Household basis.
£15,000/Unlimited
Protection By commission
Existing Radiant bespoke priced clients
Sources of Clients
Staging for acquisitions where current fees are 0.5% or less FET- Business owners
Accountants/Solicitors
Referrals
Designed Tailored Transactional
• Cashflow
• Tax Info
• Esoterics
• Bespoke Portfolio
• IHT Planning
• Protection
• Decumulation products
• Lifetime Mortgage •
• Protection • Annuity
•
We address the whole spectrum of financial needs relating to the company, its executives and other employees.
Financial security
Using assets to live life on their own terms
Differ / Release
Succession planning
efficient savings and investments
Inheritance tax planning
Financial planning the business
retention: Employee Benefits
provisions for Directors / Shareholders / Owners
Higher and Additional Rate earners
• Funding
forecasting financial requirements to achieve objectives
mitigation – evolving structure, use of pensions
Keyman Assurance
Shareholder Protection
Loan Protection
Cross Option Agreements
Wills and Trusts
Employee benefits client segmentation
Our corporate clients are segmented, based on their needs
and number of employees.
‘Go Benefits’ is designed as a simple ‘boxed’ solution for small companies, where the corporate team is not required, and our advisers can deploy a simple costed solution for clients – for example, a small veterinary practice.
For larger businesses and corporates, the solutions are bespoke. Fees shown will be net of commissions received for the placement of risk benefits, which recur at the same rate as the initial year.
Portal technology is deployed for each client, enabling online access to benefits and communication.
For every corporate client, a bespoke communications plan is put in place to firstly inform the company’s employees of the benefits provided for them, and most importantly, seek opportunities for private client advice.
• Single provider for each benefit
• Governance
• GLAS, GIP, AE
• Benefits portal
• Full range of employee benefits
• Governance
• Health & Wellbeing
• Benefits portal
Full range of employee benefits
Governance
Health & Wellbeing Flex or TRS
Our routes to market
As a group, we are very successful at winning new business - both incrementally from existing clients and from new clients.
Our new business ratio is high in our sector, with almost a 1:2 ratio of new business income to recurring income, where the industry average lies more in the region of 1:8.
How is this achieved?
• A management team focused on new business as part of our business model
• Knowledge and experience in the senior team, facilitating sales and technical training that cascades to advisers
• A professional and knowledgeable Marketing team with unrivalled experience in our sector.
The main differentiator is our truly holistic approach to our clients.
Simply reviewing the client and retaining the recurring income is not a job well done. Clients’ circumstances change and their needs are multi-faceted; therefore, our teams are trained to continually look at our clients in a holistic manner and identify new opportunities for business.
Marketing strategies to existing clients
Corporate clients create private client ‘feeding stations’
Individual clients introduced to Corporate
Existing orphan clients
Existing client book through review cycle Referrals from existing clients
Seminars and exhibitions
New clients
Increasing penetration into existing vet practices
Accountancy connections Solicitor connections
Our Planners
The quality of our planners is exceptional, superior to market average in respect of technical knowledge, sales skills and average income produced.
Significant time and experience is deployed from within the business to develop and support the team. Every member of staff, advisory and non-advisory, has access to our Academy training programme, and has a bespoke training plan which is updated six-monthly.
We do not set targets on the level of AuA because we measure:
• New business income converting to recurring income ratio
• Existing client retention in excess of 98% (no fault basis)
• Each planner’s performance against their individual P&L that was agreed in the budgeting and planning process.
Paraplanning
Centralised lead and marketing development
Developing from within (Academy)
Our planners
Operational efficiency
Technology and efficient processes are at the heart of how we provide a consistent, compliant and efficient service to our clients.
We operate a paperless environment, even where possible completing applications online and with signed PDFs. Systems are available through the cloud, meaning all staff can access 24/7 from any environment.
Feeds are in place with our key providers meaning paperless movement of funds and daily pricing feeds. Payments from providers are received through EDI, creating speed of income clearance and auto-matching to accruals in client records.
Whilst we offer a personalised face-to-face service for our clients, we also have portal technology. This:
• provides clients with the facility to see their portfolios and have access to an immediate valuation (decreasing workload significantly for administration teams)
• provides a document vault so that all reports and correspondence will be sent electronically in a GDPR safe environment (reducing expensive printing costs. An average client report is over 40 pages!)
• allows for fact-finds to be completed online and, where applicable, for the client to self-serve.
The portal is also app-based to reflect the preference of NextGen clients.
Intelliflo
What our acquisitions say
“ After speaking to a number of potential buyers we made the decision to select Radiant because they excelled in providing a package that was both client and staff centric.
The senior management have been excellent both pre-sale and post-sale and extremely professional and caring.
2 years on, I’m delighted that I have received the total purchase price including the full earn-out quoted at the outset of our Agreement. Radiant have been completely professional and trustworthy throughout the entire period.
I am pleased to have made the best decision for my staff, my clients and myself.
Glen Irvine, formerly Irvine Financial Services, Became part of Radiant in May’22
Technology
The deployment of Intelligent Office (“iO”) software as our back-office system was a considered move that was rolled out across the Group.
We continue to develop the use of this software and now have unrivalled connectivity with our other systems and our suppliers — aiming for an environment where data is only keyed once.
As iO runs on an open API architecture, we can uplift information, client records and documents with relative ease from all the main proprietary systems that are likely to be used by new companies joining the Group, for example Iress, Time4Advice and Focus Solutions.
Radiant Platform Management Limited
Introducing Radiant Platform Management
The UK financial services sector and investment market can be a complex world to navigate. Behind the scenes of every trade in financial instruments, there are extensive operational processes that often involve numerous different counterparties. When you meet with your financial planner and agree upon an investment decision, multiple entities will work together to execute that decision.
An investment platform firm is at the heart of bringing these processes and entities together. The investment platform firm broadly handles the technology, investment administration, and custody required to trade in, and hold, financial instruments. The interaction between the investment platform and your financial planning team is critical to enable them to service your savings and investment needs effectively.
Platform Origins
Modern investment platforms were created to enhance transparency, shifting the balance of power from investment managers to end-investors and their financial planners. Over the last decade or so, the investment platform industry has grown significantly, managing vast sums of client money and assets across the UK.
However, as the size and scale of these firms increased, the level of service provided to adviser firms over time has not always met the required standard many have come to expect. To address this, Radiant has partnered with Nucleus, a leading UK platform
provider, to launch our own investment platform: Radiant Platform Management. What is an Investment Platform?
If you ask ten different platform professionals to define what an investment platform is, you’ll likely get eleven different answers.
Fundamentally, it’s an online portal that allows clients to view their savings and track investment portfolio performance with ease.
More comprehensively, it offers the financial products, technology, investment administration, and custodial services that enable financial advice firms to manage their clients’ savings and investments efficiently. The platform’s software helps financial planners perform their duties more effectively, giving them the time to focus on planning and investing on behalf of their clients.
A crucial function of an investment platform is to provide products that serve as “tax wrappers” for your underlying investments. These products include Individual Savings Accounts (ISAs), Self-Invested Personal Pensions (SIPPs), General
Investment Accounts (GIAs), as well as investment bonds and trusts for more complex tax planning. The platform is responsible for obtaining the necessary permissions and providing the regulatory reporting required to operate them. Here are some key characteristics of these tax wrappers:
Individual Savings Accounts (ISAs)
• Investment Options - Allows for investment in eligible financial instruments such as stocks, bonds, and collective investment funds.
• Tax Benefits - All investment growth, income, and interest can be withdrawn with no tax liability.
• Withdrawal – no restrictions on withdrawals
• Subscription Limits - Subject to annual subscription allowances, currently set at £20,000 per annum.
Self-Invested Personal Pensions (SIPPs)
• Investment Options - Allows for investment in eligible financial instruments such as stocks, bonds, and collective investment funds.
• Tax Relief - Individual contributions receive basic tax relief of 20%, applied via HMRC and credited to the pension. Higher rate and additional rate taxpayers can claim further tax relief directly with HMRC through a tax return.
• Employer ContributionsContributions can be made directly to the pension by an employer before the deduction of tax.
• Tax Benefits - No capital gains tax on growth. Income tax is only applied based on the individual’s marginal rate of tax based on their total income received in the year it is withdrawn from the pension.
• Tax-Free Lump Sum - Subject to limits, 25% of the pension value can typically be taken as a tax-free payment.
• Withdrawal RestrictionsWithdrawals are generally allowed from age 55 (increasing to 57 from 6 April 2028).
• Contribution Limits - Annual contribution limits apply.
General Investment Accounts (GIAs)
• Investment Options - Allows for investment in a wide range of financial instruments.
• Flexibility - No subscription or withdrawal limitations, suitable for those with investment needs beyond ISA and pension allowances.
• Taxation - Subject to capital gains tax on investment growth and income tax on dividends and interest.
• Reporting Tools - The platform provides tools and reporting to help investors / planners track gains and report income received.
Why Run Our Own Investment Platform?
• We are delighted to partner with Nucleus, leveraging their technology and custodial resources while providing exceptional service through our experienced and dedicated internal platform team. This collaboration brings us access to the core functionality and investment products required to manage your savings and investments effectively, whilst significantly enhancing the dayto-day working environment of your financial planning team.
• Let’s take a look at some of the key benefits this brings to our financial planning team, and to you as the ultimate beneficiary.
Costs
As a result of improving the efficiency of operational processes carried out by your financial planning team, this leads to an overall reduction in the cost of administering your savings and investments. These savings allow us to offer clients our platform at a competitive price which is lower than many of our peers in the industry.
Service Levels
Consistent with any other service or products you might receive in other industries,
cost cannot be the sole factor in determining what’s the best option for you which is no different to your financial planning team when administering your investments. It is critical to consider the overall value and service levels delivered by the platform in determining how best to help achieve your financial goals. At Radiant Platform Management, we have a team whose sole focus is dedicated to supporting your financial planning team at Radiant Financial Planning to improve investment administration and enhance operational efficiencies. This makes a huge difference to the day-to-day work carried out by your financial planning team, and ultimately to you.
Developments and Improvements
Managing our platform allows us to influence future improvements in functionality and processes. As technology evolves, so do expectations of investment platforms. Our strategic partnership with Nucleus enables us to continually enhance the platform to meet rising standards in a way that simply wouldn’t be possible outside of this model.
Online Client Access
Our platform includes a secure client portal, offering 24/7 access to your investment portfolio holdings and performance. Our user-friendly interface is simple, modern and intuitive, ensuring you have access to up-to-date investment information to view at your convenience.
Plan for the future
Many clients have transitioned their investment products and assets to Radiant Platform Management, and are already benefiting from our efficiencies, competitive pricing, and advanced features.
If you are not yet a member of Radiant Platform Management and would like to learn more, please speak to your financial planner about the next steps.
The purpose of Radiant Platform Management
We aim to provide a market leading platform service to the intermediary businesses and retail end-clients of Radiant Group.
Via the Platform, RPML offers access to investment services and products for advisory firms within the Group to service the needs of their retail and professional clients. RPML’s primary goal is to deliver market leading customer outcomes and to meet and exceed clients’ expectations.
The business improves client outcomes by offering the following:
• Decreased cost to clients, when compared to existing external platform costs within the Group
• Increased choice to clients, allowing access to an increased number of products and services
• Increased capability to clients, allowing them more flexibility and ability to self-serve than existing platform providers within the Group
In order to deliver on its objectives, RPML partners with an existing authorised platform service provider, Nucleus. Nucleus provides the following services in respect of the operation of RPML on an outsourced basis:-
• ISA Management
• Cash or in-specie Transfers
• Cash management
• Regulatory Reporting (CASS, Transactions, Breaches, MiFID, Illustrations)
• Trading and Settlement
• System fixes and updates
RPML fulfils the following obligations involved in being a platform operator:-
• AML ID verification, sanctions and PEP checks
• Term and Conditions (Client)
• ISA Declaration
• Dealing with calls and queries from Advisers
• Control of pre-defined universe (Model creation and maintenance)
• GABRIEL reporting
• Data and Privacy policies
Radiant Asset Management Limited
“…an asset management business designed by planners, for their clients.”
RAM was established in 2021.
Most Investment Managers work in a silo, too far away from the end client to fully understand the impact their decisions have on a client’s financial goals.
After achieving regulatory permissions with the FCA in early 2022, we subsequently launched our investment models almost exactly 2 years ago, hence we are celebrating our 2-year anniversary for our MPS solutions this month!
With the support of our excellent financial planners within Radiant Financial Planning, we are quickly approaching a quarter of a billion pounds in assets under management (£227m as of 8th April 2024). Our models are available on 8 of some of the largest investment platforms in the industry, including Nucleus, offering choice to our planners and their clients.
We stand shoulder to shoulder with some of the largest Discretionary Fund Managers in the industry, but we also seek to be different through not only our investment implementation, but also in our engagement with our audience.
Firstly, our investment models are built without reference to what others in our industry are doing. What this means is that we are not bound by legacy positions, or biases, in our investment approach. We have built our solutions for the future changing economic environment and have diversified our solutions to ensure a smoother outcome for clients. To deliver this, we
utilise an enhanced diversification approach, which ensures not all eggs are in one basket and risk is spread accordingly. We call this “All-Weather Diversification”.
Furthermore, we adopt a GoalsBased Investing (GBI) approach, which seeks to align the outcomes from our models with the financial goals and objectives of our clients, be that protection of wealth or growth of capital. These are some key differentials from our peers.
In addition to this, we are focused on delivering an enhanced communication and engagement experience for our planners and their clients. This is supported by our partnership with SEI, a global leader within asset management, where we have full access to their vast resources. This allows me to free up my team’s time to work closely with planners and their clients. After all, good communication is the bridge between confusion and clarity.
We launched the MPS solutions into a tough market during April 2022, which if we look back on that period, had only just seen the start of the conflict between
Ukraine and Russia. Along with this geopolitical tension came inflationary and interest rate pressures. RAM’s All-Weather Diversification approach significantly helped weather the storm during this tumultuous time, protecting capital and limiting losses where possible. Over the full period, we have not only protected capital when required but steadily and smoothly grown capital over the 2 years since launch, outperforming the IA and ARC indices significantly across all risk profiles (see chart below).
Beyond the strong performance, we take great pride in being able to protect our client’s wealth during times of market stress whilst being available for our financial planners in supporting them and their clients through what was a difficult inflationary period. We provided valuable informational material at the time to help calm any concerns clients had as well as supporting and educating our planners about what to expect for the future.
We continue to focus on delivering the best outcome for our clients through our
MPS service and are constantly considering new and innovative ways we can help support our clients in achieving their financial goals, be that through retirement or accumulation of wealth.
Our partnership with SEI allows us to focus on building what we believe to be the most appropriate solutions built with our planners, for our clients.
At RAM we recognise that our clients have often spent decades building their wealth and they have come to us to not only protect their capital but to steadily grow it over time. We take great pride in being trusted by our planners and their clients to stand alongside them on their financial journey.
We are a key cog in helping our clients achieve their financial goals and objectives and making their dreams come true.
We stand alongside our financial planners in this journey and greatly value the trust and confidence required to build a strong and solid partnership together for our clients.
The RAM investment proposition
One of our key differentiators is the way in which our proposition looks at client assets, attitude to risk and therefore how we deploy solutions. Using the standard process, our competitors typically aggregate the clients’ liquid assets for investment and deploy one blended solution using a risk profiler to determine the appropriate attitude to risk and appetite for loss.
Financial Planner Client Attitude to Risk Risk Profiled Solution
Your financial planning journey
Multiple financial goals
All goals bundled together A blended solution Growth
Financial Planner Client Capacity for Risk
Your financial planning journey
In the real world, however, a client does not look at their assets in an aggregated way. Different ‘pots’ of money and/or assets are there for specific purposes and the clients tolerate different risk attitudes and appetites for loss in respect of each pot. Clients’ attitudes to risk and loss, therefore, vary significantly dependent upon their desired use and timescale of the asset. To determine this by one score is simplistic and inaccurate.
Multiple financial goals
Goals-based solution
Tailored solutions to meet your needs Protect Growth Higher Growth
Conclusion
3 Focuses on each financial objectives CAPACITY for risk, rather than the clients ATR.
3 Personal: in-house access to investment team.
3 Communication and reporting tailored for required frequency and quality and aligned with clients’ financial goals.
A flexible client-centric approach Investment process
Client Agreement to client at first meeting
Hard Fact Find issued Soft Fact Find
Dynamic Planner for Risk Profiling
i4c Cash-flow Forecasting Tools
• Identity verification
Client
Bespoke portfolio with IM
Model portfolio with DFM on platforms
Suitability Report
• Financial Planning Fe e
• Initial advice fee
• Ongoing advice fee
Centralised investment proposition
Model portfolio with DFM, with no platform
• Choice of solution will be the responsibility of the adviser.
• Guidance required centrally via the planning and investment processes.
Esoteric investments (VCT, EIS, Specialist schemes)
Panel of esoteric providers with extensive external research outsource facility
• Panel and its maintenance is controlled by the Group Investment Board.
• The Board provides guidance by size of FUM, client risk profile, investment goals, taxation position.
Employee Benefits
• Flexible home working
• 28 days holiday (3 days must be retained to cover Christmas shut down), plus 8 days bank holiday.
• Birthday day off (Once passed probation).
• 5% matched pension contributions
• Sick pay
• 5 weeks full pay, followed by 8 weeks half pay.
• Income protection for up to 5 years
• Death in service 4x salary
• Access to the Radiant Academy and LinkedIn Learning
• Study support packages
• Financial advice
• Free mortgage advice, plus up to £650 cashback
• 20% discount on financial advice from the Radiant team of experts
• Perks at Work (part of MediCash) online shopping discounts and cashback
• Health benefits
• Medicash – cashback on medical treatment including NHS or private dentist, optician visits, skin cancer screening and many more. (You will receive a Welcome Pack from Medicash via email with all the details)
• Free Online GP service
• Counselling helpline and 24/7 GP services
• Cycle to work scheme
• Buy a bike and/or accessories costing up to £4,500, paid back interest-free through your salary over a time period.
• Employee Referral Scheme
• £3,000 Bonus when you refer someone and they successfully pass their probationary period.
• Please click here to find out more about the company benefits.
IT/Equipment Information
Equipment that you should receive during your first week are:
• Laptop
• Monitor
• Wireless Mouse and Keyboard
If you have your own screens and keyboard at home and do not wish us to provide you with this, please let us know as soon as possible.
If you need any assistance or having trouble login, please contact Managed IT support@managed.co.uk or 01908 067 494.
Internal Systems
• Here are the systems that are critical to your success in your new role:
• SharePoint & Microsoft suite
• Bamboo HR – Time off and employment documents
• PerformYard – One-to-ones, appraisals and KPIs
• Redmill Advance – E-learning (Maintain competency and enhance knowledge)
• Intelligent Office (IO) – CRM
• The Loop – Intranet and Internal Communication
• LinkedIn Learning – Give you access to 16,000+ courses on LinkedIn Learning.
• Neo1 – Claim expenses
Please click on this link to learn more about Microsoft Suite and how to use it.