Adviser platform AJ Bell Investcentre has launched a third-party managed portfolio service (MPS) which will offer clients access to external discretionary fund managers.
The MPS, which will sit alongside AJ Bell's multi-asset funds and its existing AJ Bell MPS option, will initially give advisers access to managed portfolios from FE Investments and LGT Vestra. Brewin Dolphin is due to be added to the service soon, while other third-party MPS partners will be added to match demand.
Clients will pay AJ Bell's existing platform charge when using the new service as well as the charge levied by the MPS provider.
Billy Mackay, marketing director at AJ Bell Investcentre, said: "Expanding our model portfolio service to include external portfolios alongside our own investment solutions is something advisers have asked us for and we are pleased to be able to offer it.
"Advisers will now be able to utilise the investment expertise of a carefully selected panel of third-party MPS providers, while benefiting from our platform's competitive charges, excellent service and intuitive functionality.
"It gives them more choice to help service their clients' needs and we will be adding more MPS partners to expand the service further."