View more on these topics

True Potential adds L&C portfolios to platform

True Potential has recently added two types of discretionary funds to its platform, enabling it to cater for advisers who want varying degrees of involvement when they outsource their clients’ investment portfolios.

The platform has added London & Capital’s 10 risk-graded growth-oriented managed portfolios and its two income portfolios to its range, along with Close Brothers Asset Management’s portfolio fund range, which is part of the Close discretionary funds unit trust.

Unlike DFM portfolios that are structured as funds, the L&C portfolios cannot be brought on to any platform because they are built on the platform itself. This means the platform needs more sophisticated technology than a fund structure. The adviser also has more involvement than in a fund structure because the adviser appoints L&C to run the portfolio for their client.

L&C’s approach does not suit all advisers as some do not want so much involvement, which is why True Potential has also brought the Close portfolio funds on to its platform. These five risk-graded multi-asset Oeic funds essentially provide access to Close Brothers’ DFM skills wrapped up in a fund structure.

True Potential senior partner Daniel Harrison says: “We looked at the performance of the Close funds since inception, the way they manage risk and the charges they were willing to offer before adding them to our exclusive investment strategies.”

Recommended

5

FSA: Failed bank bosses could be banned from top jobs

The FSA is putting together plans which could see former directors of failed banks being banned from running financial institutions. The regulator’s business plan, published yesterday, says the FSA will is looking at a number of ways to make it easier to refuse an approved persons application. The FSA will set these out is a […]

1

Lenders should warn borrowers on rate changes, says Labour

Labour wants mortgage lenders to be required to advise borrowers about potential interest rate changes and the possible impact they could have on the affordability of their mortgage. Shadow Treasury financial secretary Chris Leslie has put the idea forward as an amendment to the Financial Services Bill. It calls on the Government to being forward […]

The Business of Giving Advice

The statement from the FSA on legacy commission gives clarity at high level but in the detail there is potential confusion. Legacy commission is one of the main determinants of business value so its preservation or transition to adviser-charging is important. For many firms, the issue is not about clinging to commission but about managing […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment