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.”