Ascentric clients gain exclusive access to Brown Shipley AIM portfolio services
23 May 2016
Ascentric today announces its agreement with Brown Shipley, offering advisers on the platform access to Brown Shipley’s AIM Portfolio service. The IHT planning solution will be available as a fully integrated, on-platform tool for the first time.
Utilising Ascentric’s market leading model portfolio technology and LSE membership, Brown Shipley’s AIM Portfolio service delivers IHT benefits by investing in AIM listed stocks that qualify for Business Property Relief. The portfolio will contain around 20 stocks and has a maximum investment of £500,000.
The discretionary managed model portfolio service offered by Brown Shipley has an annual charge of 1.25%, plus VAT, with no initial charge. For advisers utilising Ascentric’s “inclusive” charging option, all fund and model portfolio dealing charges are covered within the 0.30% platform charge. The alternative to the inclusive charge for using the Ascentric platform is 0.25%. On top of this, clients pay a £60 per year model portfolio fee and £1 per trade..
Comment on the announcement, Jon Taylor, Managing Director of Ascentric, said;
“The new AIM Portfolio service reflects our unbiased and unrestricted approach to providing advisers with the very best products in order to manage their clients’ affairs. This new offering showcases Ascentric’s leading services, from its model portfolio technology to in-house dealing capability.”
Ian Sackfield, CEO of Brown Shipley, commented:
“Our AIM Portfolio has been successful as a standalone offering so we are pleased that the work we have done with Ascentric will make it more widely available to advisers. We believe our desire to make our specialist services available, with a competitive charging structure, really highlights our commitment to the IFA sector.”
Jason Hemmings, founding partner of award winning IFA firm, Cornerstone Asset Management in Edinburgh, said:
“We are delighted to see the proactivity of Ascentric in continuing to enhance their offering to the HNW financial planning community.
“We have been calling for an AIM portfolio on platforms to complement our existing multi-asset model portfolio approach and bring a valuable IHT planning strategy under the umbrella of a platform. Moving client assets off platforms to access AIM portfolios is now no longer the only option.
“The fact that Cornerstone clients can gain AIM exposure with a much smaller initial commitment than most direct AIM providers without any dealing charges through Ascentric’s all-inclusive charging structure makes a real difference."
For further information please contact:
020 7506 6791
About Royal London:
Royal London is the largest mutual life, pensions and investment company in the UK, with Group funds under management of £87.9 billion. Group businesses provide around 9.1 million policies and employ 3,051 people. (Figures quoted are as at 31 March 2016).
Ascentric, IFDL and Fundsdirect are trading names of Investment Funds Direct Limited (IFDL).
Investment Funds Direct Limited was founded in 1982, and Fundsdirect launched as the UK’s first online fund supermarket in December 1999. Since that time, the company has built on its reputation as a leading UK fund supermarket to provide Financial Advisers with a Wrap platform under the brand name of Ascentric. It provides a full white label solution for institutional clients requiring bespoke technology and administrative services.
Ascentric is a Wrap platform, available exclusively to financial advisers and offers a fully integrated online investment management and dealing platform. It also enables advisers to transfer their clients’ assets onto a single platform to provide them with the ability to manage their client’s financial needs in just one place.