Gibbs Denley Investment Management has launched a series of discretionary portfolios as it readies to serve external advisers.
The advice firm revealed last September its plans to launch a discretionary managed portfolio to external advisers.
The portfolios, managed by investment manager Thomas Sparke, consist of a mix of 15 strategies comprising five risk-targeted funds, five passives, two income funds, two ethical portfolios and one ‘target return’ fund.
Gibbs Denley has run its in-house funds for its advisers through GDIM for eight years and has £440m under management. The firm, which has seven advisers, was granted discretionary permissions a year ago.
Fees at the DFM are 0.15 per cent, while charges for its balanced portfolio are 0.83 per cent.
Gibbs Denley director David Ellis says the DFM will be a simple solution targeted at “small IFAs”.
Sparke adds: “This is a really exciting step. We know that there are plenty of advisers who want to offer their clients quality investments with a good risk-adjusted return without giving investment control to an outside firm, but they don’t have the time or inclination to run a discretionary service themselves.
“Our investment model portfolios offer them a product that can provide this at a competitive cost, enabling them to focus on providing a quality financial planning service to their clients.”
Nearly 620 advisers were granted a discretionary investment permission in the past five years, according to FCA data.