City Financial is set to launch an independent web-based fund research service for financial advisers in spring 2014.

The new service called Adviser Centre will be developed by former OBSR directors Peter Toogood and Gill Hutchison and will include recommendations of around 100 established funds and a ‘Positive Watch’ fund list.The fund list will include young managers and more niche investment products on the market.

The duo has joined City Financial’s multi-asset team earlier this year, led by Mark Harris.

The new service will provide information focused at helping with the challenge of covering the whole of the market as well as offers advisers assistance in picking investments.

Toogood, investment director at City Financial, said: ‘We recognise that advisers face an array of challenges which necessitate a range of solutions. As multi asset investors ourselves, we are definitively aligned with advisers’ interests.’

"The service’s main focus would be on the type of vehicles advisers predominantly invested in on behalf of their clients. This will tend to focus upon open-ended active funds, but we will also give guidance rather than ratings on passive funds and exchange traded funds.

"The Positive Watch list will be dynamic in nature and include managers who the firm believes have the capability and potential to be successful, as well as more experienced managers who may have recently changed firm, mandate or product," he added.

Andrew Williams, chief executive of the firm, said: "We believe that the future of fund management firms lies in providing a complete, solutions-based package of services, including fund research and consulting."