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SimplyBiz and Verbatim launch DFM service

SimplyBiz and Verbatim Asset Management are launching a discretionary fund management solution, Verbatim Discretionary Service.

The discretionary service will have 24 model portfolios and will have no minimum investment and will launch to SimplyBiz members next month.

The list of discretionary fund managers selected for the service are James Hambro and Partners, TCF Investment, Henderson Rowe and Smith & Williamson.

Way Group will be in charge of governance and discretionary services while custody and trading is provided by Winterfloods Business Systems.

Charges on the active portfolios will be 0.96 per cent and a passive option is also available at 0.84 per cent.

SimplyBiz joint managing director Neil Stevens (pictured) says: “We strongly believe that the current DFM offerings do not fully meet the needs of advisers, and RDR will create yet more requirements for advisers which are not currently being catered for.”

Earlier this month, the European Court of Justice recommended all elements of discretionary management services should be subject to VAT.


Former Close executives set up investment manager

Three former Close Asset Management senior executives have set up investment management business TIME Investments. TIME will launch with two funds, the freehold income trust and the capital trading companies, with further products to be added later this year.

 The property and tax planning investment manager business is owned by real estate investment specialist Alpha […]

Nothing to hide

Let’s be really clear. We welcome anything which makes things easier for employers and employees to understand their pension. Pensions are complex and we must work together to make them simpler. A single state pension and better practices to inform people of their retirement options are two good examples of initiatives which are in the […]

MM Profile: Andrew Whiteley

Spurred by the early discovery that he did not like selling other people’s products, the director of Provisio and partner of Assetfirst has gone on to prove that an independent streak can stand you in good stead.


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