InvestmentsAug 6 2018

MPS firms sign up for FE Transmission service

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MPS firms sign up for FE Transmission service

A host of Model Portfolio Service (MPS) providers have joined the FE Transmission service, which provides details of the underlying holdings in the funds.

Cazenove Capital, Sarasin and Parmenion have just also agreed to join the service which enables advisers to access underlying portfolio data and conduct detailed analysis on the providers they work with.

Simon Cooper, director of business development at Cazenove Capital said: “Cazenove Capital is excited to partner with FE and make our platform-based model portfolio range available to advisers via the FE Transmission service.

"There is demand from the adviser industry for instantaneous, accurate and transparent model information for their clients and this makes our relationship with FE the obvious choice.

"We welcome the opportunity of working with both the team at FE and the advisers that utilise the service moving forward."

David Scott, an adviser at Andrews Gwynne in Leeds, said he never uses Model Portfolio Services because he feels the system of moving clients en masse between investments does not provide an individual service for each client, which is his preference.

"We think most are Model Portfolio Services are inappropriate for our clients. We want the investments we make to be tailor made for the individual clients.

"Model Portfolio Services group investors by risk appetite, but we think no two investors have the same approach to risk. No two clients have the same time horizon for example, so don't have the same risk profile." 

There are now 35 DFM providers signed up to the service, including Brewin Dolphin, Brooks MacDonald, Charles Stanley, Old Mutual, LGT Vestra, Thesis Asset Management, Bordier, Standard Life, Liontrust and Quilter Cheviot. 

According to FE, the Transmission service offers a complete DFM comparison service, with whole of market data, customised research tools and comprehensive reporting available.

david.thorpe@ft.com