Standard Life Wrap has announced the launch of its DFM service which will see ten discretionary managers added to the platform from April.
Brewin Dolphin, Charles Stanley, Frontier Investment Management, Investec Wealth & Investment, Liontrust, Quilter Cheviot, Sarasin & Partners, Seven Investment Management, Standard Life Wealth and Vestra Wealth will be made available.
DFMs have not been available through Standard Life Wrap before. The charges will not be announced until the proposition launches next month.
Standard Life says clients will be able to access the discretionary managed portfolios with a lower minimum investment amount than usually required.
DFMs can construct and manage portfolios directly on the platform.
Standard Life head of platform propositions David Tiller says: “The key to this service is efficiency, flexibility, choice and control. Advisers can easily invest their client’s money in DFM portfolios directly on the platform with no delays while having the flexibility to mix and match DFM portfolios with other platform assets according to client requirements. The adviser retains control of the client relationship and has full look-through to the underlying assets held in the portfolio in real time.”
“The benefits of a DFM service on the platform are numerous – advisers can secure the expertise of investment specialists combined with the security of Standard Life’s administration and custody, while retaining a full view of their clients’ assets and full control of the relationship.”