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Richmond House rolls out model portfolios on Transact

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Richmond House rolls out model portfolios on Transact

Hertfordshire-based Richmond House Group has teamed up with wrap platform Transact to offer its model portfolios to other advisers.

The portfolios have been built by Richmond House’s discretionary arm, Richmond House Investment Services, and were launched on Transact last week.

The firm is also in talks with Standard Life over launching the models on its wrap by the end of the fourth quarter. The service is already available via AXA Elevate.

The seven models are made up of actively managed funds and have around £120 million assets, £100 million of which comes from Richmond House clients and £20 million from other IFA firms.

Emma Wilkinson (pictured), investment management director at Richmond House, said the firm hoped to attract a further £50 million of assets from external advisers by the end of 2014 but did not what to grow the service too quickly.

‘We want to keep it quite small but add around another five firms so we can keep the relationships really good,’ she said.

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