Transact has incorporated independent wealth manager London and Capital’s managed portfolios on to its platform.
The multi-asset risk-based portfolios blend traditional funds with exchange-traded funds and alternative investments. They cost 25 basis points and require a minimum investment of £1,000.
London and Capital managing director Richard Leigh says: “We want to be able to give the average man on the street the chance to invest. That is why, at a cost of 25 basis points and a minimum investment of £1,000, we feel we offer something nobody else does.
“We also want to work with the most innovative platforms and that is why we have chosen to work with Transact.”
Transact head of marketing Malcolm Murray says: “There is a notable increase in advisers who use Transact accessing the services of third-party investment managers. As London and Capital is a leading supplier of such services, we are pleased to make its managed portfolios available.”
London and Capital launched its managed portfolios in March 2010. They were made available through the Novia platform.
Axa Elevate recently added Premier Asset Management and Richmond House Group to its range of discretionary managers.
Axa Wealth managing dir- ector David Thompson says: “IFAs are looking at their business models and, in many cases, will look to outsource their investment solutions to various third-party discretionary fund managers, a trend that is set to continue with the implementation of the retail distribution review.”