Brewin Dolphin has expanded its managed portfolio service (MPS) offering with a range that invests predominantly in passive vehicles.
The five-strong Passive Plus range, while focusing on passives, also allows its team to pick active funds in cases where "passive funds might not offer effective replication", for instance in areas as absolute return.
Passive fund usage currently ranges from 79 to 100 per cent across the risk-rated portfolios, while total expense ratios range from 0.12 to 0.3 per cent.
The new range is designed to complement the wealth manager's existing MPS, which uses active funds.
Gareth Johnson, head of the firm's managed investment services, said the range "gives IFAs the best of both worlds with us actively reviewing asset allocation but using underlying cheaper passive funds to get the relevant market exposure."