A service that aims to shine a light on the returns delivered by different model portfolios has added three new providers, bringing the total to 22 since launch 18 months ago.
Liontrust, Brooks Macdonald and Standard Life Wealth have signed up to FE Transmission, which allows users to compare performance data from the listed propositions.
Performance data on model portfolios from Old Mutual, Rowan Dartington, Thesis and Vestra Wealth is already available, with another two providers waiting to go live.
FE said the service launched in March last year “in response to adviser calls for a tool that supports due diligence and drives transparency into the model portfolio assessment process”.
A post-RDR tendency among many advisers to outsource investment decisions has led to strong demand for model portfolios. Research by the firm recently found that some 67 per cent of respondents used one or more model portfolio service.
This, however, has been blighted by the difficulty in comparing model portfolios’ performance data, with some industry figures highlighting this as an issue to be addressed.
Simon Hildrey, Liontrust’s head of marketing and distribution strategy, said: “As advisers increasingly turn to model portfolios for investment solutions, it is vital that they can compare the wide range available.
“FE Transmission is a key development in providing transparency and enabling advisers to have ready access to information and data on a range of providers and portfolios.”