Standard Life is launching a third party discretionary fund management service on its wrap platform for advisors.

Standard Life is launching a third party discretionary fund management service on its wrap platform for advisors.

Standard Life said in a statement the service will be available in April and service enables DFMs to manage their portfolios via a specifically developed portal that is fully integrated with the platform.

The on-platform service gives clients access to the investment expertise of DFMs at a lower entry levels than traditional propositions, the firm said.

The first managers to be included on the service are: Brewin Dolphin, Charles Stanley, Frontier Investment Management, Investec Wealth & Investment, Liontrust, Quilter Cheviot, Sarasin & Partners, Seven Investment Management, Standard Life Wealth and Vestra Wealth.

“The key to this service is efficiency, flexibility, choice and control. Advisors can easily invest their client’s money in DFM portfolios directly on the platform with no delays while having the flexibility to mix and match DFM portfolios with other platform assets according to client requirements. The advisor retains control of the client relationship and has full look-through to the underlying assets held in the portfolio in real time," said David Tiller, head of platform propositions at Standard Life.