London & Capital has launched a new Portfolio Management Service positioned between a multi-manager and a full blown stockbroker package.
Former F&C UK retail head Jamie Farquhar will lead the new operation which gives investors access to five risk-graded portfolios.
The five strategies will vary according to client risk profiles and will aim to beat the after charge bank base rate as follows:
- Conservative (+1%)
- Moderately cautious (+1.5%)
- Balanced (+2%)
- Moderately aggressive (+2.5%)
- Aggressive (+3%)
London & Capital will determine the asset allocation with the assistance of Old Broad Street Research shortlists. The strategies will not include London & Capital’s own funds.
Transact, Nucleus, Ascentric, and Lifetime are currently able to support the new proposition at launch, with other expected to follow later in the year.
Key facts include:
- 0.75% annual fee for delivery of tailored portfolio to platform
- Platform charge and annual management fees on underlying funds dependent on platform choice
- Ability to maintain tax-efficient wrappers such as ISAs, PEPs and SIPPs as well as standalone holdings
- 24/7 client and adviser access
“Faced with ever-tightening regulations and increasing administrative workloads, intermediaries need to find more client-facing time and growing numbers are outsourcing their investment responsibilities, the popularity of multi-manager funds evidencing this trend,” Farquhar says.
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