It will allow Financial Planning firms to work with Parmenion “as an appointed investment adviser”.

Under the ‘Affinity’ partnership model, a Financial Planning firm would use Parmenion’s authorised DFM model to manage one or more investment solutions.

These investment solutions would be based on the firm’s existing model portfolios and investment philosophy whilst holding direct influence over investment decisions.

The Parmenion platform takes responsibility for the investment solution administration.

Last November, Parmenion CEO Martin Jennings pledged to focus on developing and delivering greater investment choice for advice firms.

A number of Financial Planning firms have previously entered similar partnership agreements with the platform, including Lancashire-based Becketts.

Parmenion expects to add six new financial advice firms to the Affinity partnership each year over the next three years.

Mike Barrett, consulting director of the lang cat, said: “Partnerships like this are an increasingly attractive option for many firms. They need to ensure the agreements between advice firm, discretionary partner, and client are robust, and responsibilities as to who does what are clearly set out.”

Parmenion recently introduced new charges to help cover the cost of work involved in selected products.

Since last month the platform has levied a quarterly SIPP charge, a minimum monthly custody charge, a new dealing charge and will introduce an annual DFM charge on its passive solutions.  

Last summer, Standard Life Aberdeen completed its sale of Parmenion to private equity house Preservation Capital Partners, in a £102m deal. 

New parent company for the platform, Preservation Capital Partners, specialises in acquiring financial services businesses. Its current portfolio includes Lloyds broker BMS and insurance managing agent Optio. It said it will treat Parmenion as a standalone acquisition with no plans for major changes and no integration planned with other businesses.

Former Standard Life Aberdeen joint chief executive Martin Gilbert’s AssetCo also acquired a 30% stake in Parmenion Capital Partners, in a deal worth £27.8m. 

Parmenion manages £8bn of assets on behalf of over 2,500 advisers and 68,000 clients.