Royal London-owned platform Ascentric has signed a deal with Brown Shipley to offer advised clients the private bank’s discretionary managed portfolio.
The portfolio allows clients to take advantage of inheritance tax (IHT) benefits through investment in AIM listed stocks that qualify for business property relief.
The portfolio has 20 stocks and a maximum investment limit of £500,000.
The annual charge for using the portfolio service is 1.25% plus VAT with no initial fee.
Dealing charges in the portfolio depend on the platform charging plan used by the client. Those clients who use the normal tiered platform charging structure will pay £60 a year portfolio fee and £1 per trade.
Clients who pay a 0.3% fee as part of the inclusive charging structure, which was introduced last year, will not have to pay a dealing fee.
Ian Sackfield (pictured), chief executive of Brown Shipley, said his company wanted to make its AIM portfolio more accessible to advisers by signing the deal.
‘Our AIM Portfolio has been successful as a standalone offering so we are pleased that the work we have done with Ascentric will make it more widely available to advisers,’ he said.
‘We believe our desire to make our specialist services available, with a competitive charging structure, really highlights our commitment to the IFA sector.’