Chase de Vere is launching a discretionary model portfolio service in the first half of 2018.
The advice firm currently only offers advisory services, but is in the process of seeking FCA permissions for the planned discretionary service.
It is recruiting a head of portfolio management for its office in Bath to run the new service. They will join the research and technical advice services team, which conducts fund and investment research for Chase de Vere advisers.
Chief executive Stephen Kavanagh says: “We have seen increasing demand from our clients for a discretionary investment service and more of our competitors are offering them. We need to continually adapt and improve our services to meet the demands of our clients and I see this launch as a natural evolution and enhancement of our advice and investment proposition. We will be able to offer our clients a discretionary or advisory investment choice depending on their requirements.
“We are well placed to offer this service as we have over 200 independent financial advisers across the UK and billions of pounds of assets under advice. However, we want to ensure that we also provide a market-leading investment service and so, while we have many technical and investment experts at Chase de Vere, we are actively looking for an experienced investment professional to run our discretionary services.”
Chase de Vere says charges will be competitive compared with other discretionary investment services.