Towergate Financial launches passive multi-asset portfolios

Towergate Financial has launched six model portfolios which will be managed by passive specialist Evercore Pan-Asset.

The discretionary fund manager will use tactical asset allocation to invest into funds and passives for the national IFA’s risk-rated portfolios. Towergate Financial said the passives portfolios would be a core holding for its high net worth clients, and would be supplemented with an active range of portfolios to be launched in early 2010. 

‘We are delighted to be launching these new portfolios that form a key part of our new private client toolkit,’ said Ian Darby (pictured), chief executive of Towergate Financial. ‘What we have done with the multi-asset portfolios is to enable our clients to benefit from a very high quality bespoke risk-rated portfolio, at a much lower total cost than would have been previously possible.’ 

The model portfolios will be run off Towergate Financial’s platform, a white labeled version of Ascentric. Towergate Financial has acquired 10 IFA business in the last two years and is an arm of general insurance broker Towergate Partnership.