Openwork is to launch a discretionary fund manager (DFM) in April, led by former Tilney Bestinvest head of investment Toni Meadows.
Building on Openwork's existing investment proposition Omnis, the new DFM will offer "cost-effective, tailored" solutions to clients seeking to outsource asset allocation decisions.
Omnis has £4.2bn of assets under management across 10 specialist sector funds run by Woodford Investment Management, Schroders and Threadneedle.
Its ‘Graphene' fund range, which will work particularly closely with the DFM, offers three risk-rated model portfolios: cautious, balanced and adventurous.
Tilney meanwhile appointed Chris Godding as chief investment officer, replacing Gareth Lewis who is to take up the role of managing director of investment strategy.
Openwork chief executive Mark Duckworth said: "The discretionary service is designed to appeal to those who desire one-stop access to some of the world's best fund managers but outsourcing the tactical asset allocation decisions to our team.
"Many advisers will find a discretionary service appealing at a time when political risk and an uncertain economic backdrop are increasing volatility and making short-term asset allocation decisions very challenging."
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