Principal Investment Management today launched its new wrap solutions service which it says is ready-made for the RDR.
WealthSpace comprises a range of risk-rated model portfolios and is aimed at IFAs looking to streamline their investment managing offering and outsource investment management risk. It also offers private investors the benefits of professional discretionary management.
The service is currently available on Skandia, Nucleus and Ascentric with discussions underway with other providers.
Principal sales and marketing director Adrian Jewitt says the service comes at a "perfect time" for IFAs gearing up for the RDR, providing TCF compliance and access to wrap reporting tools.
"With conditions in the financial markets changing all the time, this is a great way to make sure clients' investment portfolios are always structured appropriately," he says.
"If the market changes, we can remodel the portfolios. This can be done across one or more of the model portfolios and so can benefit all clients in those models at the same time."
Principal's WealthSpace investment team will monitor the investments regularly to ensure the portfolios remain within the defined strategy. It will rebalance clients' portfolios every quarter to ensure they are in tune with the latest investment strategy.
In March 2008, Principal became part of the Sanlam Group. The South-African company's UK arm owns Merchant Investors, Principal Holdings and Buckles Holdings with minority holdings in Intrinsic, Nucleus and the Punter Southall Group.
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