Private client brokers Killik & Co is launching an investment wrapper account for a business divisio...
Private client brokers Killik & Co is launching an investment wrapper account for a business division to be run by former Barclays stockbrokers Justin Urquhart Stewart and Tom Sheridan.
The account takes a mutual fund as its base and then allows investors to build a mirror portfolio with the opportunity to screen out some stocks and add or increase weightings to others.
The division, 7im, will bring out a sterling and dollar-denominated wrap account. The firm is to invest £4.5m in technology to support the service. It will be available at the start of next year. Minimum investment will be £200,000, and each client's investment will be tailored to their goals and risk profile.
Sasha Dabliz, marketing director at Killiks, said the account offered a halfway house between a unit trust and a self select equity portfolio. She said a client who liked a fund but wanted to invest on an ethical basis would be able to screen tobacco and oil stocks from a manager's portfolio and pick alternate stocks.
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