Schroders Personal Wealth has launched its first range of portfolio funds for its advised clients.
The young advice firm announced today (July 15) its SPW Portfolio Funds — comprising six risk-rated, multi-asset funds — were up and running, exclusively available to clients receiving advice through SPW.
SPW, which is the joint advice venture between Schroders and Lloyds Bank, said each portfolio fund was managed to a specific level of risk and combined different asset classes, including equities, bonds and alternatives.
The ongoing charge figure on the fund range is capped at 0.65 per cent. Clients would also pay a 0.2 per cent platform charge.
SPW’s ongoing advice fee depends on the amount invested with the firm, but a client with £100,000 invested is levied a 0.65 per cent advice fee per year.
Marcus Brookes, chief investment officer at SPW, said: “This is an exciting milestone for the company and a significant step on our journey towards becoming a top financial planning business in the UK.
“The portfolio funds will allow us to support our clients in helping them to achieve their personal ambitions. Whether they’re looking to invest to ultimately buy a property, fund family events, retire early or leave a nest egg to their children or grandchildren, the SPW Portfolio Funds provide extra flexibility and choice.”
Mr Brookes said the combination of the fund range with the investment expertise at Schroders provided SPW advisers “another way” to help clients reach their investment goals.
The fund range will mainly invest in Schroders funds, alongside some third party portfolios, as it “builds on SPW’s relationship” with Schroders Investment Management.
SPW will be responsible for setting the mandate and will have overall oversight of the range, while Schroders Investment Management will manage the investments.
The national advice firm launched to existing clients in June last year, targeting consumers with a minimum of £100,000 investable assets.
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