MGD Wealth has added a third portfolio from Select Asset Management, further strengthening their partnership.

MGD Wealth has added Select AM’s LDI Connect 20 Portfolio to its investment options. The new portfolio aims at providing cash reserves to meet investors longer term liabilities.

Select chief executive, Brendan Foley, said the firm had designed customised solutions for longer-dated portfolios for clients with a 20-year retirement horizon.

Stephen Furness, MGD Wealth director and head of Investment Advisory, said: "The portfolios allow non-institutionally aligned wealth management businesses such as MGD Wealth to compete with the vertically integrated advisory businesses."

Select head of CPS David Yale said "MGD Wealth can offer their clients customized portfolios under their own brand and on their preferred administration platforms that they control as investment manager, with Select Investment Partners providing them asset consulting and implemented portfolio services."

Yale added that the asset manager is in talks with other non-aligned dealer groups who are also looking for products compliant with the Future of Financial Advice (FoFA) regulation.