Scottish Equitable International (SEI) is to launch a wealth management portfolio that will offer access to a comprehensive range of external fund managers.
The product, which is set for launch on 13 March, is domiciled in Dublin and will eventually replace the group's current bond offerings, the investment, money market and private client portfolios.
The new portfolio is an open-architecture bond that will offer clearer charging transparency, with charges individually separated between SEI, advisers and fund managers.
Advisers will even have the opportunity to mould their own charging structure to suit a client's needs.
Steven Whalley, marketing manager at SEI, said: &The main benefit of this product is the simplicity and transparency it offers as part of a concise portfolio for both the adviser and the client.&
SEI is also offering a Preferential range with around 25 fund managers and 900 funds. The bond will have access to SEI's own portfolio funds, all of which are being offered with a reduced annual management charge. The portfolio will also offer 25 free fund switches per annum.
There is a minimum investment of &75,000 for those looking to access the open-architecture choice, while those using the insured funds will have to invest a minimum of &15,000.
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