Quilter is adding 40 new portfolios to its model portfolio services in response to adviser and client demand.
The additions take the group’s ‘WealthSelect’ offering to 56 portfolios, including a wider range of third-party funds and managers.
The new portfolios are available on the Quilter platform from today, in active, blended or passive management styles.
The portfolios will feature a discretionary investment management fee of 0.15 per cent for the passive portfolios, and 0.2 per cent for the responsible and sustainable portfolios.
The existing 16 portfolios will move to the same fee structure later this year, when Quilter says the overall costs of the underlying funds will be reduced to ensure the total customer cost remains unchanged.
David Tiller, commercial & propositions director at Quilter’s platform and Quilter Investors, said the product expansion is due to feedback from advisers.
"To help take risk out of advice processes, advisers told us that a scalable governed solution was only truly valuable when it offers the flexibility to match both their preferred investment approach and differing individual client needs.
"It's about giving a high degree of choice while at the same time [offering] a strong backbone of consistency across it all."
He added that the company is rolling out training and is also expecting to launch a technological tool to help advisers engage with their clients over ESG, to understand their clients' preferences.
He said: "With WealthSelect advisers no longer have to compromise and now have the options that will allow them to balance a client’s investment objectives with ESG factors in line with their preferred style and fee level.”
WealthSelect was launched in 2014 and now managers £9.6bn from 64,000 investors and 1,800 adviser firms.
Medium risk portfolio charges
| Passive | Blend | Active |
Managed | 0.22% | 0.59% | 0.67% |
Responsible | 0.29% | 0.62% | 0.77% |
Sustainable | - | - | 0.70% |
Source: Quilter
Steven Levin, chief executive of Quilter’s platform and Quilter Investors, added: “WealthSelect has been hugely successful over the years, and we are proud of the relationships we have built with advisers through this proposition.
"However, we cannot rest on our laurels, which is why I am immensely pleased to be able to use our expertise in the platform and Quilter Investors to deliver real innovation that addresses the complex intersection between advice, ESG and personal client objectives.”
sally.hickey@ft.com
