Five discretionary fund managers (DFM) have been added to the Aegon Retirement Choices platform (ARC).
The addiition of Avellemy, Brooks MacDonald, Fairstore, Tatton and Liontrust brings the total numbers of DFMs on the platform to 17.
Nick Dixon, investment director at Aegon, said: “It is widely expected that the percentage of on-platform assets under management by DFMs will increase over the next few years.
“With an increasing number of clients looking for sophisticated investment strategies we are delighted to announce our new partnerships with Avellemy, Brooks MacDonald, Fairstone, Tatton, and Liontrust.
“The combination of their investment expertise alongside the ARC efficient model portfolio technology and broad choice of assets, lets clients and their advisers have the flexibility and choice they are looking for.”
Andrew Whitely, director and financial adviser at Proviso, said: “Unfortunately the preference for IFAs to relinquish the management of client portfolios to DFMs seems to be a growing one and - despite it representing yet another layer of fees for the client - platform providers must give their users what they want at the end of the day.
“However to describe a quarterly rebalanced, DFM managed, fund of funds portfolio as being tailored to client’s specific needs is beyond the pale.”
