Brewin Dolphin halfway through cost-saving segregated mandate transfer

Aiming to reduce MPS costs by £3m a year

Victoria McKeever
clock • 2 min read

Wealth manager Brewin Dolphin has completed two of four transfers into manager-of-manager segregated mandate strategies as part of its restructure of its managed portfolio service (MPS).

Brewin Dolphin has transferred around £750m of the £1.5bn from third-party retail funds into its new segregated investment mandates. It announced the move in January, saying the aim of the exercise was to reduce costs on the firm's MPS by £3m a year. It said cost saving had already started and clients should expect to benefit from the full annual saving when the last two transfers are completed in April and May.   The expected reduction will be passed on to advisers' clients through the ongoing charges figure (OCF) of the underlying fund holdings. Brewin Dolphin said transaction costs...

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