The discretionary service, which will be available to the members of SimplyBiz from June 2012, has 24 model portfolios and no minimum investment amount.

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James Hambro and Partners, TCF Investment, Henderson Rowe and Smith & Williamson constitute the list of discretionary fund managers who have been selected for the service.

Further, Way Group is in charge of governance and discretionary services and Winterfloods Business Systems is in charge of custody and training.

Annual charges on the active portfolios are 0.96%, while that on passive option is 0.84%.

The portfolios also feature additional initial and ongoing trading costs, which varies depending on the fund manager and size of portfolio.

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