Redmayne Bentley has launched a digital-only managed portfolio service for anyone with £20,000 or more to invest.
The portfolios will invest actively in individual equities, bonds and collective funds and will also hold junior individual savings accounts, which begin at £9,000.
Redmayne Betley has developed a profiling tool which is based on savers' and investors’ answers to a set of simple questions about themselves and what they are looking to achieve with their savings in order to advise them of the most suitable portfolio for their needs.
The service, which is led by the firm’s head of investment management James Andrews, will then use the expertise of the firm’s strategic asset allocation and research committees to monitor the model portfolios.
Andrews said: “We live in disruptive times, yet financial services and particularly private client investment managers have been slow to adapt and to move forward to meet the expectations around digitally led services.
“Providers that have forged ahead have done so with passive and low-cost offerings. We wanted to be different, and to bring a truly active and high-quality approach to the digital financial services market.
“We utilise our stock picking expertise that is enjoyed by high-net worth clients, and invest in direct equities, actively managed funds and exchange traded funds across a diverse set of asset classes.”
According to Redmayne Bentley, their active discretionary management enables investors to access portfolios which are usually restricted to high-net worth investors.
The company’s MPS has been run offline for the firm’s clients since launching in summer 2019.
Since inception, Redmayne Bentley’s MPS cautious portfolio has returned 10.87 per cent, and in the 12 months to the end of February 5.11 per cent.
The MPS progressive portfolio has returned 24.19 per cent to date with a performance of 21.72 per cent for the 12 months to February 2021.
Ruth Gillbe is a freelance reporter for FTAdviser