National advice network Tenet has signed up Tatton Asset Management to run a managed portfolio service for its appointed representatives and directly authorised advisers.
Tenet had previously decided to remove its own centrally supported model portfolios in early 2020.
Tenet chief executive Mark Scanlon says the three-year contract does not impact advisers’ independence:
“We remain committed to supporting our advisers’ independence and as one of the leading adviser support groups, we are constantly seeking to bring our members great solutions to help their clients meet their financial goals.
“Advisers may want to run their own advisory model portfolios and other fund solutions, but we believe that the efficiencies of the Tatton managed portfolio service provides great support for advisers and delivers a professional end-customer experience.”
Tatton Asset Management chief executive Paul Hogarth says:
“Tenet conducted a rigorous and demanding selection process and we are delighted to have been selected.
“Our managed portfolio service offers very competitive charges without any reduction in investment standards or service and are also highly scalable.”
It was also announced today Tatton Asset Management has signed a three-year contract to provide investment management services for Ascensia, the discretionary fund manager of national advice firm Frenkel Topping.
The IFA and asset manager focuses on asset protection for vulnerable clients.
Frenkel Topping appointed Wellian Investment Solutions Limited as its portfolio research partner in February last year. Both moves are with a view to scale the business.
Frenkel Topping chief executive Richard Fraser says: “The appointment of Tatton goes to the heart of our strategy – to scale the business and, as we begin to execute our previously outlined M&A strategy, Frenkel Topping requires the right partners and complementary expertise to manage investments effectively.”