InvestecSep 24 2020

Investec launches MPS for advisers at 0.2%

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Investec launches MPS for advisers at 0.2%
Credit: Chris Ratcliffe/Bloomberg
ByImogen Tew

Investec Wealth and Investment’s managed portfolio service has become available on adviser platforms for a 0.2 per cent charge.

The private bank announced today (Septmber 24) it had launched the service, which Investec said was now “one of the most competitively priced MPS solutions on the market”, on platforms, such as Ascentric, Nucleus and Transact.

Other platforms offering the service include Aviva, Embark, Hubwise, Novia and Standard Life.

The MPS has a five-star Defaqto rating, with a five-year track record, and offers IFAs and their clients access to a choice of five established risk-based strategies.

Investec said each strategy was built from a research list that far exceeds those of their peers to ensure a range of highly diversified strategies and its team of research specialists would “continuously review” the strategies to enable tactical asset allocation and fund changes.

By introducing a range of strategies that allow intermediaries and their clients to share in Investec’s research expertise, through a range of platforms, the service offers “much greater flexibility” for advisers, Investec said.

John Cowmeadow, head of intermediary services at Investec, said: “We have listened to our IFA partners and responded with a new, enhanced offering at a highly competitive price. 

“We hope this new service will be attractive not only to our existing IFA partners, but to intermediary firms and their clients that haven’t worked with Investec before - especially those clients who may be at an early stage of building their wealth.”

MPS fees have seen downward pressure in recent years, with firms charging as low as 0.15 per cent.

Such fees are tipped to drop further as DFMs look to HM Revenue & Customs to find out if their service is VAT exempt.

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