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IFPG to offer clients discretionary management from Quilter
Markets
by Nicholas Paler on Aug 18, 2010 at 10:39
National IFA Independent Financial Planning Group (IFPG) has agreed a three-way deal with discretionary manager Quilter and wrap provider Praemium to give its clients access to a range of discretionary portfolios.
Under the new link-up, IFPG can now provide its clients with access to three discretionary investment strategies managed by Quilter which match risk profiles provided by the adviser.
IFPG said the three strategies will be blended according to the clients risk appetite, while Quilter will screen and rebalance the portfolios regularly. The portfolios will be held on the Praemium platform.
Paul Whitehouse, director at IFPG, said: 'We wanted to use a discretionary manager to provide active investment management for our clients, to ensure our business is aligned with the principles of RDR [the retail distribution review] and to free us to focus our time and energy on helping clients achieve their personal objectives.
'Being able to access the investment expertise via our own platform not only enhances the value of our services in the eyes of our clients, it reduces risk and increases the value of our business.'
Glenn Hawksbee, head of sales at Quilter, added: "The virtues of this model are being realised across investment management and advisory services ahead of the implementation of the RDR.
'We strongly believe that investors will benefit from the combination of personalised contact with an investment adviser, specialist investment management and transparent access to portfolios.'
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3 comments so far. Why not have your say?
David Cowell
Aug 18, 2010 at 11:47
Discretionary?
I have yet to see the details but find it difficult to see how these portfolios can be other than another form of 'fund-of-funds' or 'manager-of-managers'.
It seems to me that proper discretionary management is being devalued by the term being used for things that are patently not the true form.
report thisStuart Fowler
Aug 18, 2010 at 17:08
The issue isn't whether it's 'proper' discretionary management but why almost all discretionary management looks like this: three to five standardised versions of balanced management in which the main differentiator in the asset mix is the exposure to bonds - an asset that is pretty useless either as a hedge or as a bet.
It's what DB pension management used to look like until asset liability modelling and LDI edged it out. Both the IFAs and the DFMs are about 20 years behind the state of the art.
report thisCarl Baxter
Aug 19, 2010 at 10:27
Well said Mr Cowell!
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