Standard Life has reported a 30% increase in adviser firms investing client money in discretionary manager portfolios on its Investment Hub platform during 2017.
This was the biggest increase since the platform launched in 2014 and contributed to the 75% growth in assets under administration (AUA) on the Hub, with assets now standing at around £6 billion.
The service gives financial advisers access to a wide range of model portfolios with access to 90 discretionary managers offering a range of strategies.
Standard Life’s head of adviser and wealth manager propositions, David Tiller (pictured), said the firm will allow advisers to customise client portfolios on the service later this year.
He said: ‘Advisers will be able to establish investment mandates that are targeted against the individual requirements of their clients without the premium normally associated with type of portfolio tailoring.
‘What was once the preserve of the very high net worth will be open to all advisers’ clients.’
Over 90 are currently on the platform for advisers to access, while there are over 5,000 funds on the platform.