Allium Capital is launching a fund for Simply Biz, one of the largest financial services groups in the UK and a provider of financial compliance services, training and support to more than 5,000 members.

Simply Biz needed an investment solution that could assist its members to achieve a more compliant and consistent outcome when implementing their investment advice.

The proposal, branded Verbatim, provides a three step process which includes a risk assessment questionnaire based on Oxford Risk’s psychometric methodology which the FSA has described as the benchmark for advice. The asset allocation models provided by Distribution Technology are based around modern portfolio theory.

To meet client requirements and match the output from the asset allocation models, advisers will have access to a range of investment options, from a choice of discretionary management services to six risk rated funds designed to follow the asset allocation models at all times.

The IM Verbatim funds have been designed to match specific risk classifications and access a broad range of fund management talent from managers including Henderson, Schroders, Architas and Ignis.

Priced up to 0.25 per cent inside the market average for similar funds, the IM Verbatim funds have the additional benefit of an ongoing performance review process, provided by the Verbatim investment committee, which ensures that the managers remain within their mandated guidelines at all times.

Maria Grogan, board director Allium Capital who led the project, says: “Allium was launched to revolutionise the financial services industry by breaking down the traditional supply chain and optimising each element in the reconstruction, the result is a more TCF and cost effective solution. We liken this approach to a large supermarket chain taking back the power from its suppliers and negotiating better quality products at better prices. The down side to this approach is that it takes a lot of understanding of the various elements and is a harder to initially implement – which is why we describe Verbatim as the most complex fund launch ever. At Allium we believe that the easy route isn’t always the best and so we leave no stone unturned to deliver the best fund solutions for our clients.”

Matt Timmins (pictured), marketing director of Simply Biz, adds: “Verbatim was such an over ambitious and complex launch that we brought in important partners like Allium to help us achieve something truly special and unique. We sat down with Allium with a blank sheet of paper and with a desire to put something very different in place. At the end of the initial meetings we had a ‘theoretical’ plan in place that really would offer a solid cost effective solution. Allium worked with us and our key partners tirelessly to help us realise Verbatim and bring it to market.”