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IFAs to offer bespoke portfolios

Client demand for advice on long-term investments and an increasing focus on wealth management have led the Misys network and national IFA Lighthouse to introduce portfolio design services.

The Misys tool, part of the recently launched Misys Investment Services, has been developed solely for its network members and will recommend a client-specific portfolio of investments. The portfolio will be based on all the available funds on the market, including its own fund of funds.

The firm will charge the IFA 0.5 per cent of the total sum the client is investing through the service.

Misys says it differs from other services because it makes a firm recommendation to the IFA on what portfolio to offer their client rather than just a suggestion.

Misys Investment Services will calculate the client&#39s risk tolerance and map out the most appropriate funds based on information from the IFA. The service will initially be paper based but Misys will consider developing it online.

Lighthouse says it expects to invest about £2m developing an online portfolio tool covering the investment market for RIs and clients. The service is due to be launched in January.

Lighthouse says it will primarily be an information aggregation tool and will integrate the online services that Lighthouse already offers, such as tax planning and fund management.

Misys Investment Services investment manager Ian Clarke says: “As consumer sophistication and cost-sensitivity rises, advisers will find the service they can offer in advising on the composition of investment portfolios will be in great demand.”


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