Tenon Financial Services, the London-based business advisory firm, has launched Tenon Wealth, a new wealth management platform comprising a range of seven discretionary managed portfolios.

Each of the portfolios featured on Tenon Wealth has a different asset allocation, designed to match a range of investor objectives and risk appetities. While three are stability-focused, aimed at generating reasonable returns with limited downside risk, the remaining four gradually assume more risk in order to potentially enhance returns, the firm said in a statement.

Tenon also said it will also create bespoke portfolios through its advisory service for clients who desire more direct control over their investments.

Peter O’Sullivan, head of financial services, said that Tenon’s investment in the new technology – which is provided by SEI – will allow the firm to pass on administrative savings to its clients. “Our costs are transparent and split into account set up, investment fee and advice. There are no switching fees. Accounts can also be grouped to take advantage of pricing discounts,” he said.

Tenon Wealth accepts ISA, SIPP, bond and Employer Financed Retirement Benefit Scheme investments, and additional tax wrappers will be launched next year.