About the role
The Head of Investment Governance leads Progeny Wealth's Centralised Investment Proposition (CIP). Based in the operating company as distributor, as distinct from Progeny Asset Management (PAM) as manufacturer, the role defines Progeny Wealth's investment philosophy, owns the strategy and design of the CIP, sets the mandates each solution must meet, and selects, oversees, and challenges the solutions on it — including PAM's — at arm's length. With PAM and panel DFMs managing money within those mandates, the postholder is free to focus on the proposition as a whole, and is accountable for every solution on the CIP, and legacy advisory business outside it, demonstrably delivering fair value and good outcomes under Consumer Duty.
Owns the proposition, not the portfolios
Progeny Wealth decides what good investing looks like for its clients and which solutions earn a place on the CIP; PAM and panel DFMs manage money within those mandates. That line lets advisers back PAM on its merits, and evidences to the Board and the FCA that in-house solutions are recommended because they are right for clients.
Key Areas of Focus
Investment Philosophy and CIP Strategy
Defining Progeny Wealth's investment philosophy and the strategy, design, and segmentation of the CIP, and setting the parameters and mandates each solution must meet across all Progeny Wealth propositions.
Solution Selection, Oversight and Challenge
Selecting the solutions on the CIP and overseeing them against their mandates — due diligence and monitoring of panel DFMs, products, and providers, and arm's-length oversight and challenge of PAM as a solution on the CIP.
Outcomes, Legacy and Rationalisation
Tracking client outcomes across CIP and non-CIP business, maintaining the framework for legacy advisory portfolios, and providing investment leadership to platform and ISIN rationalisation.
Key responsibilities include:
-
- Define and maintain Progeny Wealth's investment philosophy, asset allocation framework, and risk mapping, and own the strategy and design of the CIP.
- Set the mandates for each solution on the CIP across all Progeny Wealth propositions, and oversee the selection of solutions against them using the portfolio assessment tool.
- Undertake due diligence on panel DFMs, products, and providers prior to approval for the CIP, and maintain ongoing monitoring of the panel thereafter.
- Provide arm's-length oversight and challenge of PAM as a solution on the CIP, ensuring its mandates and performance remain appropriate for inclusion and maintaining governance distance from Progeny's manufactured fund range.
- Maintain an investment framework for legacy advisory portfolios outside the CIP, and ensure every solution, in CIP and non-CIP business, demonstrably delivers fair value and good client outcomes under Consumer Duty.
- Track clients in CIP and non-CIP solutions, own investment performance and outcomes reporting, and communicate positioning and market outlook to advisers, clients, and the Board.
- Own the investment papers, data, and recommendations to the Investment Oversight and Advice Policy Committee (IOAPC) on CIP strategy, panel composition, and challenge outcomes.
- Provide investment leadership to platform and ISIN rationalisation, ensuring consolidation of the instrument estate is delivered without detriment to client portfolios or outcomes, and act as the senior technical escalation point for complex investment queries.
- Lead and develop the investment governance team, including the Investment Governance Manager.
Our ideal person
Essential criteria
- Substantial investment experience within UK wealth management, private client, or discretionary fund management, spanning investment oversight, governance, and due diligence.
- Demonstrable track record of designing and maintaining a centralised investment proposition, investment panel, or similar multi-solution framework.
- Strong technical knowledge of asset allocation, portfolio construction, risk mapping, and DFM due diligence, sufficient to set mandates for and credibly challenge professional portfolio managers.
- Working knowledge of the FCA regulatory environment, including Consumer Duty, COBS suitability, PROD distributor obligations, and investment governance.
- Credible and confident communicator, able to present investment thinking to advisers, clients, committees, and the Board.
- Relevant professional qualification (e.g. CFA charter holder or Chartered Wealth Manager).
Desirable criteria
- Experience of overseeing or challenging an in-house DFM or manufactured fund range at arm's length, including within an ACD / AFM structure.
- Experience of building or operating a portfolio assessment tool or similar framework for evaluating investment solutions.
- Prior involvement in investment, platform, or ISIN migration and rationalisation programmes.
We may close this vacancy early if we receive sufficient applications. Therefore, if you are interested, please submit your application as early as possible.