Service launched to help wealth managers unitise client portfolios

Technology service launched

Investment Fund Services Limited (IFSL) has partnered with technology firm Hubwise to launch a service allowing advisers and wealth managers to convert segregated client portfolios into an OEIC structure.

IFSL, which is part of the Marlborough Group, will integrate Hubwise's online fund platform with its own fund administration services. It is hoped the new service will encourage financial firms to 'unitise' their client portfolios by removing some of the hurdles and complexities that deterred them previously.  Seven challenges for UK wealth managers The benefits for firms of using the OEIC structure include reduced administrative costs, increased distribution opportunities and consolidation of operations. For clients, it means stronger regulation, no VAT on investment fees and n...