TATT TTON A ON ASSE SSET T MA MANAGEMENT PL GEMENT PLC C Aut utumn umn Par artn tner er For orum um 20 2019 19 Pau aul l Ho Hoga garth th - CEO CEO
2 SHAR SHARE E PR PRIC ICE E AND AND MAR MARKET KET CA CAP P AT IPO Spring NOW Share Price £1.56 £2.00 £1.84 Market Cap £87,000,000 £112,000,000 £103,000,000 Cash at bank £12.2m Next dividend due in December
3 SIGN SIGNIFICANT IFICANT SHAREHO SHAREHOLDER LDERS S SHAREHOLDER NAME PERCENTAGE SHARES HELD Blackrock INC 15.3% Liontrust Investment Partners LLP 12.1% Chelverton Asset Management Limited 6.4% Legal & General Investment Management Limited 6.0% Lombard Odier 4.9% Kames Capital PLC 4.3% Rathbone Investment Management Ltd 3.1% Next shareholder update mid October
4 Our credentials AUM on platform DFM at 31/03/19 Assets under management Tatton Investment Management £6.1 bn Brewin Dolphin £3.2 bn • June 2014: £1bn 6,600 LGT Vestra £3.4 bn 6,400 • June 2015: £2bn 6,200 FE Invest £1.96 bn 6,000 5,800 • June 2016: £3bn 5,600 Tavistock Wealth £945m 5,400 5,200 • May 2017: £4bn 7IM £745m 5,000 4,800 4,600 • Apr 2018: £5.0bn Morningstar 4,400 £909m 4,200 4,000 • Apr 2019: £6.1bn £ Million 3,800 PortfolioMetrix £698m 3,600 3,400 Charles Stanley £500m 3,200 3,000 Source: Platforum, DFM Distribution Dynamics, July 2019 2,800 2,600 2,400 2,200 2,000 1,800 1,600 1,400 1,200 1,000 800 600 400 200 0 May-13 Jul-13 Sep-13 Nov-13 Jan-14 Mar-14 May-14 Jul-14 Sep-14 Nov-14 Jan-15 Mar-15 May-15 Jul-15 Sep-15 Nov-15 Jan-16 Mar-16 May-16 Jul-16 Sep-16 Nov-16 Jan-17 Mar-17 May-17 Jul-17 Sep-17 Nov-17 Jan-18 Mar-18 May-18 Jul-18 Sep-18 Nov-18 Jan-19 Mar-19
5 Our credentials No. of firms using Tatton No of Accounts 500 60,000 450 58,000 400 56,000 350 54,000 300 52,000 250 50,000 200 48,000 150 46,000 100 44,000 50 0 42,000 2018 2019 2018 2019
6 Pla Platf tfor orum um Repor eport t – DFM Di DFM Distribution stribution Dynami Dynamics 7/2019 cs 7/2019 Our World Adviser outsourcing trends • 51% outsource investments But only 12% of total client assets in platform based DFM • 47% run inhouse MPS = 32% of advised assets on platform • 21% of assets in multi-assets funds
7 PLA PLATFOR TFORUM UM REPOR REPORT • £500 billion market • £48.1bn of adviser led investment in DFM MPS • i.e. 12% of the total • Tatton largest player
8 DFM DFM De Development elopments s • Hybrid Models • ESG Portfolios • Unitisation
10 Blended Fun Blended Funds A ds AUM UM - £100m £100m Tatton Ongoing Charge Jupiter Ongoing Charge Schroders Ongoing Charge (%) (%) (%) VT Tatton 0.56 Jupiter Merlin 2.49 Schroders MM 1.84 Blended Active Growth Portfolio International Fund Fund VT Tatton 0.54 Jupiter Merlin 2.37 Schroders MM 1.82 Blended Balanced Balanced Diversity Fund Portfolio Balanced VT Tatton 0.53 Jupiter Merlin 1.85 Schroders MM 1.75 Blended Cautious Conservative Diversity Fund
11 Blended Fu Blen ded Fund A nd Availa vailability bility • Novia • AJ Bell • Nucleus • Aegon ARC • Standard Life • Amber • Transact • Ascentric • Wealthtime • ATS • Zurich • Aviva • Scottish Widows • Axa/Elevate • Embark • Cofunds (Institutional) • Old Mutual • Fidelity Funds Network • Hubwise • James Hay • LV SIPP • Direct Application • Direct Application via third party SIPP • Direct Application (ISA Wrapper available) • Can facilitate adviser agreed remuneration via Direct Application
12 Fees ees at t 74% an 74% and perf d perfor ormanc mance a e at 5 t 54% 4% remain emain top top 2 f 2 factor actors
13 The total cost of investing through a financial adviser 1.55% 1.44% 2.10% 1.87%
14 Pr Practice actice made made mor more perf e perfect: ect: Comp Comparing aring Aver erage ge and and the the Elite Elite Clear message – success is associated with more client face time
Tatton’s New London Office Official Opening - Champagne & Canapes 12 th November 5.15pm
16 Paradigm Consulting • Strong and loyal IFA membership base • The Agency • Odyssey Programme
Why Odyssey? ODYSSEY Definition; A long and eventful journey or experience 17
Background – State of the Nation • Advice gap – recognised through FCA study (FAMR) • Worsened by wave of retiring advisers • New advisers needed to address shortfall • Challenge and opportunity for profession 18
Background – Recent Research (The Heath Report 3) • 5,898 less advisers since RDR • Further 7,000 advisers to leave in the next five years • 5 % with immediate retire plans • 16 % hope to retire in the next five years • Only 18,000 advisers in ten year’s time? Source: The Heath Report 3 – Jan 2019 19
What is The Odyssey Programme™? Aimed at anyone who might consider a career in financial services (i.e.) • Looking to change career • Parents returning to work • Retiring armed forces personnel • Young individuals (6 th formers & university graduates) looking to forge a profession in financial services 20
Learn, Train, Work The Odyssey Programme is split into three key stages: LEARN TRAIN WORK 21
Learn, Train, Work LEARN – towards Adviser, Paraplanner, Mortgage adviser • Clarity Financial Training as appointed partner • Study options to suit varying lifestyles: • Classroom only • Classroom & Webinar combination • Blended distance learning (Distance study & Webinar combination) • Product training + compliance training and soft skills delivered by Paradigm Consulting 22
Learn, Train, Work TRAIN – through placement in firms • Firms & students agree days per week (likely 1 or 2 to fit with study) • Structured through comprehensive training plan • Designed to individual achieving CAS status 23
Learn, Train, Work WORK – suitable first post with Odyssey's support • Once qualified and trained, Odyssey will help students to find work • Likely to be with firm through which the student trained, however; • Odyssey will also act as recruitment agency 24
Other Information Enrolment: • Launches mid-November 2019 for first intake January 2020 • Price equates to £400 per month • Bursaries are available for exceptional applicants 25
How Can You Help? We need your support… • We are looking for firms to register with us as firms that will help train, with the assistance of Odyssey, new advisers and paraplanners with a view to them joining your business • We will be writing to you all shortly with further details and asking you to register your interest. • In the meantime, please feel free to register your interest immediately by emailing David Ryder david.ryder@tattonassetmanagement.com 26
PARA ARADIGM DIGM MO MORTGA GAGE GE SE SERVIC VICES ES
28 Par aradigm M adigm Mor ortga tgage S ge Ser ervi vices ces TATTON FINANCIAL YEAR [ENDED MARCH 2019] • Completions: £8.37bn – an increase of 21.7% vs overall market growth of 5% • Applications: £9.07bn – an increase of 22.2% • Proc Fee Income: £2.48m – an increase of 23% • 1392 DA member firms - an increase of 14% HIGHLIGHTS FOR CURRENT TFY • July was a record month for applications and are on track to grow from last year • Membership increases at 13 firms per month • Completions are on plan for further growth despite a flat market
29 Par aradig adigm Pr m Prot otect ect: 5 y : 5 year ears s sin since la ce launc unch TATTON FINANCIAL YEAR [ENDED MARCH 2019] • Total Premium written £12.1m • Net override income of £592k (increase of 10% on previous year) • Net income c.600% up vs. income generated before Paradigm Protect started in 2014 • Total override income generated to group since inception in 2014 circa £2.3m HIGHLIGHTS FOR CURRENT TFY • Premium written in first 4 months significantly ahead of comparable period 18/19 • Net override income to end July also ahead • 49 new firms so far this TFY, 10 new registrations per month • Total number of Protect firms at the end of August sits at 622
30 Par aradig adigm Pr m Prot otect ect WHY WOULD A FIRM USE PARADIGM PROTECT? ✓ Most comprehensive range of Protection Products available to DA ✓ Market leading commission terms ✓ No loaded premiums (unlike some of our competitors) ✓ Only distributor to offer a Protection helpdesk ✓ Most comprehensive programme of Specialist Protection events for DA advisers
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