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Investment veteran to launch new investment boutique firm

New boutique will operate under PI Investment Services umbrella

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Kieran Follis, former head of investment at Tees Wealth, has launched a new discretionary investment management boutique firm that will offer a focused range of actively-managed, risk-adjusted model portfolios.

The model portfolios offered by Magellan Research & Investment (MRI) will be available on several advisory platforms, including the P1 Investment Services Platform, and are backed by a seven-year performance track record.

A discretionary managed portfolio investment service on a more individual, bespoke basis, will also be offered.

In addition to being on P1’s digital-only investment platform, MRI will operate under the P1 umbrella, using the firm’s regulatory, administrative and tech support framework.

With 35 years of international and domestic investment market experience, Follis was previously a divisional director with Gerrard/Barclays Wealth and most recently, head of investment management at Tees Wealth in Bishop’s Stortford.

“The Magellan ethos is ‘to make a difference’, with extremely high levels of client service and a total and absolute focus on investment performance at the forefront of everything we do,” said Follis.

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“The ongoing spate of M&A within the investment industry fills us with dismay,” he added. “It speaks to the herding of clients, homogenous portfolios and an increasing lack of differentiation between what seems an ever-decreasing circle of fewer, but very large firms.

“We are determined to work as true client managers, not simply client gatherers. Professionally, we also want to shine a bright light into the dark corners of the DFM world, where fees can remain stubbornly high, but returns often disappoint.”

MRI will join alongside several investment managers operating their businesses under P1’s umbrella, including Elston Portfolio Management, Corrival Capital Management, Pangea Impact Investments and Five Horizons.

“Having met with several platform providers in our build-out of Magellan, we found P1 to be head and shoulders above all of them,” Follis said. “They share our vision of careful growth, and as close partners on our journey, stand beside us with the resources and skill we need to help us every step of the way.”

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