Zurich has added 10 investment strategies from the Bordier UK range to its retail platform in its latest push into the discretionary management space.
Zurich investors can now use strategies from Bordier UK’s model portfolio service, known as the Platform Managed Portfolio Service.
According to Alistair Wilson, head of retail platform strategy at Zurich, the platform is keen to ensure advisers and their clients are able to access a wide selection of discretionary fund managers on the platform.
This comes after Zurich expanded its platform to include a discretionary management service for the first time in January this year, with the addition of Brewin Dolphin, Charles Stanley and Vestra Wealth.
The new additions include Bordier’s defensive, cautious, balanced, growth and adventurous strategies, along with five risk-profiled strategies created specifically for the Lighthouse Group.
Jamie MacLeod, Bordier UK chief executive, said the firm has opened up to companies like Defaqto, ARC and Distribution Technology in recent years “to make the intermediary’s task in selecting the right partner that little bit easier”.
Blair Cann, senior partner at Cuffley-based M Thurlow & Co, said: “I feel quite strongly that, while potential model portfolios like Zurich are offering may be of a little interest, as an IFA it is my responsibility to recommend the investment strategy, not the provider’s.
“I may refer to a basic asset allocation tool, but deciding the exact allocation and which funds to use is my responsibility.
“If the spread of assets and funds turns out to be inappropriate, I do not think an IFA can defend their position by saying they outsourced this aspect; due diligence (which appears to be flavour of the month at the FCA) will be cited.”
katherine.denham@ft.com
