Ex-Bestinvest CIO Frost & Matrix man join new VCT/EIS discretionary firm

Spencer expects the service will primarily appeal to intermediaries who looking to invest in tax-efficient structures but are unwilling to undertake all the due diligence on VCTs and EIS themselves.

‘Many IFAs are uncomfortable building portfolios of VCTs and EIS and if they don’t do enough of volume, it may not be commercially worthwhile taking in to account the amount of due diligence required’ he explained.

Charges for the service are yet to be decided, although Spencer admits it will be more expensive than a traditional multi-asset discretionary portfolio due to the costly nature of the underlying investments.