Quilter Cheviot has lowered charges for clients invested in the managed portfolio service via its nominee arrangements.
If an adviser decides a client is better suited to invest directly with Quilter Cheviot, that client will now pay 0.50 per cent for the MPS, down from 0.75 per cent.
While clients coming directly to the business will pay 0.70 per cent down from 0.90 per cent.
The fee for investing via Quilter Cheviot’s own nominee arrangements includes both the investment management and its custody services.
According to the firm, the change in charges will help to ensure costs are as aligned as possible for clients regardless of whether they are investing via a third-party platform or with Quilter Cheviot directly.
Its MPS has also been added to Aegon’s and Nucleus’ platforms to increase access for advisers taking the total number of platforms the MPS is available on to 17.
David Butler, head of distribution at Quilter Cheviot, said: “Having already reduced the overall cost of investing in our MPS with our building block structure, we are really pleased to find more efficiencies that can ultimately benefit the end client.
“We wanted to equalise the way in which people access our MPS whether that be via an adviser platform or directly through our own custody.”
“It is important for suitability that clients have that choice and are invested in the way that is right for them. Having the total cost of ownership for custody MPS at a similar level as on platform MPS is a good way to provide that choice to advisers and clients and make it much easier to compare services.”
Managed by Simon Doherty and Antony Webb, Quilter Cheviot’s MPS uses a building blocks structure.
Each building block is designed to provide specific geographic or asset class exposure, and invests in a combination of direct equities, bonds or external fund holdings, providing clients with a solution that is more agile and lower cost than one with a traditional funds-based approach.
alina.khan@ft.com
