London & Capital says the managed portfolios in the middle of its range, with risk profiles three to seven, have been the most popular among advisers.
The firm introduced the range of 10 risk-graded managed portfolios in March to provide a discretionary fund management service that advisers can use for all their clients. It says funds of funds are often used for investors with small to medium amounts while full discretionary services suit highnet-worth clients but there is little to meet the needs of all client types.
The managed portfolios cater for risk profiles one to 10 and are available through the Novia platform. They have attracted more than 40 firms, amounting to more than 200 advisers, in less than six months and London & Capital is doubling the size of its team to cope with increasing demand.
Head of adviser solutions Bruce Ely-Johnston says: “There has not been a model in the market for advisers to offer a management service across all clients and our proposition fulfils this. There are some similar products out there but they have a minimum investment of around £75,000 while we have no minimum.”