British private banking firm Kleinwort Benson has rolled out a new bespoke discretionary fund management (DFM) service for independent financial advisers (IFAs).
Kleinwort Benson head of discretionary fund management Leigh Philpot said that the new service will complement the firm’s existing cash management, private banking and credit services.
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The firm already has a risk-profiled range of six portfolios that are audited by Distribution Technology.
"Our approach is to work very closely with a few dozen firms, which enables us to provide high quality service and support to those firms that genuinely want a strategic relationship with their DFM," Hippolite was quoted as saying by Fundweb.
"Our partners tell us that Kleinwort Benson’s contrarian style, with a focus on risk budget, provides a very attractive alternative to other DFMs," Philpot added.
The firm is also planning to work with certain larger IFA businesses to launch the new tailored portfolio service, Fundweb also quoted Jeremy Hippolite, head of UK financial intermediaries at Kleinwort Benson, as saying.
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By GlobalDataIn addition, Kleinwort Benson has also signed a DFM partnership deal with Ergowealth, an IFA firm founded by former Defaqto chairman Alastair Whitehead.
