Verbatim Asset Management has signed up its first 15 firms to its discretionary fund management service.
SimplyBiz Group launched the Verbatim discretionary service in May this year. Portfolios are run by fund managers James Hambro & Partners, Henderson Rowe, Smith & Williamson and TCF Investment.
The 24 risk-rated portfolios have no minimum investment limit and are run on a continuous basis, costing less than 1% including administration and VAT. There is a low cost passive option priced at 0.84%.
Neil Stevens (pictured), managing director of Verbatim Asset Management, said the proposition would help advisers to deliver a high quality service to clients.
‘Advisers using Verbatim Discretionary will find they retain total control of the client relationship, have unprecedented transparency of costs and can be confident of the ongoing suitability as they control the portfolio mandate for their clients,’ he said.
‘Our handpicked team of discretionary managers will deliver quality portfolio management while ensuring the adviser is always central to the performance monitoring, reporting and client reviews.’