Quilter’s WealthSelect managed portfolio service has passed £10bn in assets under management, making it one of the largest MPS in the market.
The news comes nine months after Quilter added 40 new portfolios to the MPS, taking the total number to 56.
The new portfolios have a 0.15 per cent discretionary investment management fee for the passive portfolios, and 0.2 per cent for the responsible and sustainable portfolios.
The MPS is managed by Stuart Clark, a portfolio manager at Quilter.
David Tiller, commercial and propositions director at Quilter, said: “Each client a financial adviser has will have their very own set of preferences and objectives and thus solutions have to keep up and offer the adviser an ability to personalise the investment to the client.
“WealthSelect does just this with its comprehensive offering across risk levels, investment styles and responsible investment preferences. As such, advisers can be assured they can effectively plan across every generation knowing there is a solution available to consider.”
The £27.6bn HNW arm will be run by Andy McGlone, chief executive of Quilter Cheviot, and will focus heavily on the group's DFM services, whereas the £80.9bn affluent arm will be made up of three businesses, Quilter Financial Planning, the Quilter platform and Quilter Investments.
In December 2020 Quilter removed VAT from its managed portfolio services, including the Quilter Cheviot MPS, after asking HMRC for a formal VAT ruling.