AJ Bell, a UK-based provider of online investment platforms, has expanded its investment offering by rolling out a passives-only managed portfolio service (MPS) for financial advisers.
The annual investment management charge for the MPS is 0.25% plus VAT.
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AJ Bell Investments, the new investment management business that was created earlier this year, will run the portfolios.
The MPS features five portfolios constructed according to their respective risk brackets. I will be rebalanced quarterly to ensure they remain aligned with their risk targets.
AJ Bell said the MPS leaves advisers free to focus on their core financial planning advice, as they are still able to offer clients comprehensive portfolio service without having to manage it themselves. The MPS also helps advisers meet their regulatory obligation of ensuring portfolios meet the needs of their client.
AJ Bell marketing director Billy Mackay said: “Advisers’ use of portfolio services has been on the increase since the RDR but the costs and transparency of traditional services have not kept pace with the direction of travel in the market. Our focus has been to build a managed portfolio service that is easy to understand for both advisers and their clients, fits into the existing business processes of advisers and offers their clients a competitive deal.”
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