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Whitechurch chiefs back portfolios with own cash

Whitechurch Network chairman Kean Seager is putting his money where his mouth is by transferring his own pension pot into one of four equity portfolios the network has developed for its members.

He is following close on the heels of Whitechurch Securities managing director David Davies, who will be first into the new portfolios.

Using Skandia&#39s multi-manager proposition, four portfolios have been put together. There is a portfolio for people 30, 20, 10 and five years from retiring, with a differing split between cash and equities.

The funds in each portfolio will be monitored by Whitechurch&#39s investment team and may be changed depending on performance. IFAs will have the choice whether to follow the recommendation or make their own decision.

All the options are equity-based, as Seager believes over the long term they provide better opportunity for growth than with-profits pensions.

The service is offered free to Whitechurch Network&#39s 150 RIs which are allowed to use any multi-manager service. Seager has written to members explaining the philosophy behind the portfolios, urging them to consider them.

Seager says: “The only way of moving forward is to demonstrate we can offer a value-added service for our clients and this is one way we can do that. Most IFAs, with the best will in the world, do not have the expertise to select and manage an equity portfolio.”

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