Prosperity Independent Financial Advisers and Stockbrokers has joined forces with investment specialist Brooks Macdonald Asset Management to give clients targeted access to their funds.
Brooks Macdonald AM will offer Prosperity's clients two investment propositions: the Bespoke Portfolio Service and the Managed Portfolio Service, both of which both have 5 Star Ratings from Defaqto.
Brooks Macdonald will also provide a comprehensive nominee, dealing and custody service.
The bespoke is designed for private clients who require an individual investment portfolio constructed and to reflect their investment objectives, tax status, attitude to risk and other personal circumstances.
The managed service provides clients access to a choice of five actively managed, risk-rated, diversified portfolios which invest in unit trusts, OEICs, investment trusts, exchange traded funds, structured products and cash to spread risk.
The portfolios will be marketed exclusively to clients of Prosperity (both existing and new) and can be held within a wide range of product structures including ISAs and self-invested personal pensions.
Brooks Macdonald AM will manage both of services for Prosperity on a discretionary basis with responsibility for the suitability of the portfolio's being retained by Prosperity.
Prosperity managing director Mark Newman said the move would benefit both its clients and advisers.
"[It] provides us with a more robust compliance model for the post-Retail Distribution Review world," he said.
Andrew Shepherd, joint managing director, Brooks Macdonald AM, said: "The investment management services that we are providing are designed to cover Prosperity clients' wide range of investment objectives and risk profiles."
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