Investments  

Alliance Trust Savings plans DFM move

Alliance Trust Savings (ATS), the platform owned by FTSE 250-listed Alliance Trust, is planning an expansion into providing discretionary management and model portfolio services after passing £5bn in assets under administration.

Managing director Patrick Mill said the platform’s next focus would be improving functionality, including providing access to discretionary fund management services as requested by its adviser users.

“Advisers want to put more of their customer base with us and we have ambitious plans in place,” Mr Mill said.

Article continues after advert

“We’re hoping to make an announcement before the end of the year to let advisers know when we are going to provide these services.”

Mr Mill said the milestone was “particularly satisfying” but “merely a stepping stone” in the platform’s growth. At the start of 2013 ATS had just over £4bn invested through its direct and advised propositions, meaning it has added £1bn in less than nine months.

“Our asset growth has been strongest in percentage terms from the adviser channel which is testament to the increasing support we are receiving from advisers,” he added.