IFA firm Origen will outsource fund management of its £65m discretionary business to Brooks Macdonald Asset Management.
Origen will continue to look after the day-to-day financial affairs and financial strategy of its discretionary clients, but Brooks Macdonald will take over investment management.
Under the new arrangement, Origen says it will be able to offer clients three levels of investment management:
- Advisory Portfolio Service – the existing advised service, which will continue to be provided by Origen consultants using the Cofunds platform for collectives.
- Managed Portfolio Service – Origen clients with assets of between £10,000 and £300,000 who require discretionary management will be able to choose from five risk rated portfolios managed by Brooks Macdonald, with Cofunds administration.
- Bespoke Portfolio Service – for Origen clients with investable assets of £250,000+, the Brooks Macdonald service includes a dedicated investment manager who will work with the client to create an individual portfolio.
The Origen consultant will continue to have a key role in agreeing the risk profile, the investment principles, the appropriate fund benchmark and in monitoring the performance for all services.
“We believe that entering into this alliance is in the long term best interests of our customers, by not only enhancing our private client proposition but also looking to the heart of Treating Customers Fairly,” Origen Managing Director Stephen Greenstreet says.IFAonline
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