The new service has been designed to address concerns recently raised by the UK Charity Commission, which highlighted the legal requirement for trustees to review the suitability of investment manager appointments. This includes whether the manager is complying with the terms of their appointment and whether the performance of the portfolio is acceptable.

Asset Risk Consultants said the service highlights key information and action points for consideration by the trustees, with the ability to also review the portfolios’ structure. The firm also said it would charge a flat fee for the service.

"We have been encouraged by the charity community to develop a robust and cost-effective solution that addresses concerns regarding recent issues that have been raised," said Graham Harrison, founder and managing director of Asset Risk Consultants.