Building a centralised investment proposition has become a regular part of many advisers' practice.
The advantages are many, but chief among them is the ability to streamline a lot of administration over building a client's portfolio, saving time and effort on building a bespoke portfolio for each client.
Many advisers, some with up to 100 clients, may not have the time to build a client's portfolio from scratch and regularly review their holdings, but a CIP, which may use a model portfolio service, will help them do so more quickly. It is also much easier to check where portfolios are on a regular basis.
CIPs can also help with the consumer duty, with its focus on outcomes and its requirements to demonstrate value and service. Many CIPs can also supply reams of educational material that may be too time-consuming for an adviser to put together for each client.
CIPs, and their common form MPS, have dramatically changed the way that advisers run their business, and many advisers find them helpful in their everyday working life.
melanie.tringham@ft.com