Why did you launch Provisca?
It was in response to trends in the offshore market that have reduced product choice for international advisers and clients. This has created a great opportunity for a modern, outsourced distribution business.
There is a demand for stronger brands and better products, with both advisers and consumers looking for flexibility, better pricing and value that is underpinned by the security of well-regulated jurisdictions.
IFAs need products to keep up with client and regulatory trends, and this has not been helped by existing providers withdrawing from markets and a lack of quality brands and products entering the market.
Many product providers that are well-established in their domestic markets are attracted to the idea of expanding internationally but face barriers to entry, such as a lack of cross-border marketing expertise, and the costs and risks of establishing an international sales and marketing infrastructure.
Outsourcing to Provisca solves both issues: providers develop international assets under management with minimal product development required; and IFAs gain access to products that extend their range of solutions while de-risking their business.
What makes you different?
Provisca offers a full suite of products from a portfolio of great brands, rather than a small selection of specialist funds. It will include the Momentum investment platform, plus life products, funds and investment solutions, including managed portfolios and discretionary management services, international pension solutions and corporate savings schemes.
We will only have partnerships with major brands that have strong corporate credentials. Quality of product, success in a ‘home market’ and quality of domicile and regulation are all key to our selection criteria. We offer a fully outsourced sales and marketing function to these providers, meaning we are in a position to build a full market entry strategy and support that with marketing and sales requirements.
We have another key USP: our experience. Provisca’s founders have worked together in senior sales and marketing roles in the offshore financial industry for more than 20 years, and we know the market as well as anyone. We bring a unique depth and breadth of experience to the business of gathering assets in the offshore market.
What are your specific roles?
As a relatively new start-up it has been ‘all hands to the pumps’ to set up the company’s infrastructure, negotiate with potential partner product providers and communicate with the international IFA community.
A key benefit of working with Provisca is you get the blend of our deep experience in both sales and marketing in the international market. While one of us takes the lead on any given topic or project, we really do work together on almost everything.
