Under the deal, Oval’s clients can use two of BMAM’s investment propositions: the Managed Portfolio Service and the Bespoke Portfolio Service, BMAM said late last week in a statement.

The Managed Portfolio Service gives access to five actively managed, risk-rated, diversified portfolios holding investments: unit trusts, OEICs, investment trusts, exchange-traded funds, structured products and cash. The products can be held inside structures including offshore and onshore bond ISAs, self invested personal pensions, small self-administered pension schemes and individual trusts.

In July, the firm added three new investment management directors to its teams in London and Manchester. At 30 June, Brooks Macdonald Group had funds under management of £3.52 billion (around $5.63 billion).