Wealth manager Succession Group’s CEO Simon Chamberlain said that the firm has partnered with Vestra Wealth to launch a new discretionary fund management (DFM) service for its advisers.
The new on-platform portfolio management service has been designed particularly for high-net-worth clients and will allow advisers to focus on financial planning rather than investment strategy, according to FT Adviser.
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Additionally, the service will include a bespoke ¬service from Vestra together with online valuations and wrappers managed by their wealth manager.
The on-platform DFM service will be managed and reported alongside clients’ other platform investments.
Succession, which has over 60 member firms across the UK, now manages £2 billion of assets on its platform and has more than 12,000 clients.
Tony Allan, partner and head of business development at Vestra Wealth, said: "We are extremely pleased to be working with Succession, whose successful business model and investment philosophy attracts the high-net-worth clientele with whom Vestra has a great deal of experience.
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By GlobalData"This development of our strategic partnership creates new opportunities for us to offer platform solutions to a larger audience," he added.
Chamberlain said: "Our member firms are first and foremost financial planners, specialising in managing their client relationships and the quality of advice they can offer."
Chamberlain added that he is expecting other matrix partners to launch a similar service thereby increasing choice for investors.
