Discretionary Investment Management Authorisation Approval
We are pleased to announce that Watermark Financial Solutions Ltd. has obtained Discretionary Investment Management Authorisation from the Financial Services Authority.
This has been a goal of the company for some considerable time and it is our understanding that we are the first independently owned firm of retail based Independent Financial Advisers in our region that has this authority.
This means that we are now authorised to make investment decisions and action them immediately without first seeking permission from our clients, which will enable us to act quickly and to take advantage of short term market conditions.
As an advisory only firm, which most IFA’s are, we had to obtain consent from clients to switch their money around. This has long represented a major issue for us because by the time clients respond it can be too late and the opportunity has gone.
There is still some way to go before we can move our clients across to our ‘Discretionary’ service, but we are planning to launch the first phase by the end of July 2008.