Standard Life is set to launch a third party discretionary fund management (DFM) service for advisers on its wrap platform.
The new DFM service will see ten discretionary managers added to the platform with effect from April and will offer direct access to third party managers on its platform.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The DFMs that will be available on the Standard Life wrap include Brewin Dolphin, Charles Stanley, Frontier Investment Management, Investec Wealth & Investment, Liontrust, Quilter Cheviot, Sarasin & Partners, Seven Investment Management, Standard Life Wealth and Vestra Wealth.
In addition, the service will allow DFMs to construct and manage their portfolios through a specifically developed portal that is integrated with the platform.
Standard Life said that clients will be able to access the DFMs at a lower minimum investment amount than usually required.
However, it will now charge an annual administration fee of £291 to move money from the platform to the DFM.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataDavid Tiller head of platform propositions Standard Life said: "Advisers can easily invest their client’s money in DFM portfolios directly on the platform with no delays while having the flexibility to mix and match DFM portfolios with other platform assets according to client requirements.
"The adviser retains control of the client relationship and has full look-through to the underlying assets held in the portfolio in real time. The benefits of a DFM service on the platform are numerous, advisers can secure the expertise of investment specialists combined with the security of Standard Life’s administration and custody, while retaining a full view of their clients’ assets and full control of the relationship," he added.
