Assetfirst has launched an "insourced" investment portfolio service offering advisers a low-cost index-tracking solution in a bid to challenge the dominance of discretionary fund managers.
The service enables IFAs to create and maintain their own range of risk-graded, multi-asset portfolios on a range of platforms using ETFs and other index funds. "This is a real alternative to hiving money off to discretionary fund managers," said Assetfirst director Andrew Whiteley. "It is cost effective and leaves the adviser in control." Launch of the service comes as outsourced solutions, and in particular discretionary fund managers (DFMs), enjoy a spike in popularity ahead of implementation of the retail distribution review (RDR). But Assetfirst is aiming to overturn the curre...
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