West London independent financial advisor Camilleri & Associates has launched a wealth management division offering a portfolio management service to high net worth individuals.

Head of the new division Richard Simmonds said the firm has responded to a demand from private clients for independent, client-focused investment management with proactive portfolio management.

The unit aims to build bespoke multi-asset portfolios to fit an individual client's risk appetite and financial objectives. The service includes quarterly investment reviews, rebalancing and online access to portfolios.

Founder and managing director Henry Camilleri said: "This is an important strategic initiative for us and we believe we can add real value to the client relationships of professional advisors who want institutional standard portfolio management delivered with the highest private client service standards.

"In the post Retail Distribution Review world, IFAs will have to demonstrate the extra value they add to justify their fees. The wealth management division will help us to demonstrate this to our clients and help us to meet our target of recruiting experienced IFAs to our team."

The service will be rolled out from December via other advisors including solicitors and accountants.