Manchester stockbroker Pilling has struck a partnership with a third party distributor that will see its AIM portfolio service distributed to financial advisers.
Pilling has sealed a tie-up with Stellar Asset Management, a tax-efficient product provider. This marks a new direction for the stockbroker, which has traditionally targeted wealthy individuals.
‘Pilling & Co has always concentrated on providing services to private clients but recently we have seen demand from institutional contacts because they have needs that suit our skillset,’ said Alistair Hodgson, an investment manager at Pilling (pictured).
‘In this instance, Stellar Asset Management wanted to find a firm that could handle two particular competencies in-house: efficient ISA administration and experienced AIM portfolio management.
‘It is something we’ve been happily doing for our own clients, so it was something we could bring together very smoothly for them.’
The portfolios levy an annual management charge of 1.25% with no initial fee.
Matthew Steiner, business development director at Stellar, added: ‘It’s Pilling’s expertise that people are buying into.’