The latest news in investment offerings, financial products and other services relevant to wealth advisors and their clients.

Rathbones 
UK wealth manager Rathbones has launched an upgraded model portfolio service (MPS) enabling financial advisors to offer their clients enhanced actively managed solutions at competitive rates, led by the investment team. 

This is the first enhanced range of investment products unveiled by Rathbones this year building on the group’s capability as a result of its integration with Investec Wealth & Investment, the firm said in a statement.

The suite of seven portfolios, which will be made available on 14 advisor platforms in the autumn, brings together proven expertise in discretionary portfolio management into a single proposition.

Designed for advisors and their clients investing over the medium to long term, the MPS offers a range of seven actively managed portfolios, aligned to diverse investment objectives and comfort levels with risk – from adventurous to conservative.

The ongoing charges figure (OCF) for the portfolios is capped at 0.5 per cent, with no discretionary fund manager (DFM) fee applied, the firm added.

The underlying funds powering each portfolio are managed by David Coombs, head of multi-asset investments at Rathbones Asset Management alongside fund manager Will Mcintosh-Whyte. The portfolios themselves are managed by Andrea Yung, who led MPS at IW&I. The team is supported by Rathbone Asset Management’s multi-asset team, which has a16-year, public track record in running multi-asset funds. 

The portfolios are actively managed, constructed from the ground up using building blocks funds which will be launched exclusively for this service. The seven portfolios in the MPS, in ascending order of risk target, are: Conservative; Cautious; Cautious+; Balanced; Balanced+; Growth; Growth+.

Third Financial, City Asset Management
Third Financial, part of the Nucleus group, has announced that investment manager City Asset Management is the latest addition to its client roster, marking a key part in its growth trajectory. 

London-based City Asset Management is a financial planning and discretionary investment management firm. It has over £800 million in assets under management, which will transfer to Third Financial under an initial five-year partnership, the firm said in a statement.   

“It’s a vote of confidence in our team that City Asset Management has committed to working with us for the next five years. We’ve fast become the preferred partner for businesses who need industry-leading, technology-driven solutions backed by exceptional client service,” Ricky Ali, commercial director of Third Financial, said. “Having the financial might and breadth of capability of the Nucleus group behind us makes a real difference to our conversations with ambitious, investment managers like City Asset Management, looking for a stable, committed, long-term partner.”

Nucleus acquired Third Financial last year. The group offers a range of products, services and software options that enable large advisory firms and consolidators, investment managers and institutions, to take some or all control of their platform propositions.