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Brewin launches portfolio service for smaller clients
by Danielle Levy on Jun 29, 2012 at 07:00
National wealth management firm Brewin Dolphin, headed by Jamie Matheson (pictured), is to cater for its smaller clients with the launch of a managed portfolio service, against a backdrop of rising regulatory costs.
Brewin’s managed portfolio service (MPS) will be headed by Edinburgh-based divisional director John Moore and aims to drive down the costs associated with portfolio management for smaller clients by using a centralised approach. The firm said this would be aided by an internal platform, developed by SEI, which has been designed to handle volume.
The MPS will be offered to 27,000 existing clients with investable assets between £10,000 and £150,000, although clients at the £100,000 mark can opt for bespoke management if they prefer.
Moore stressed clients were under no pressure to move to the new service, while those that do move will maintain a relationship with their investment manager.
‘We have looked at the new world and how we can look after these clients, while still giving them the Brewin Dolphin service,’ he said.
Five risk profiles will be offered and the portfolios will predominantly invest in collectives and have some exposure to passives, with their make-up based upon Brewin’s Asset Allocation Committee and in-house research. The firm estimates underlying funds total expense ratios will range from 0.8% to 1.1%, while clients would be charged a 1.2% fee plus VAT, but would be faced with no minimum or transaction charges.
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