In a tribute, Andrew Fahy, chief executive of Quilter Cheviot Europe gave the following statement:

“It is with profound sadness that we share with you the loss of our colleague and friend, Donnacha Fox, who passed away suddenly and unexpectedly in hospital on Wednesday 8th of January. Donnacha was a hugely respected figure within Quilter Cheviot and in the Irish business community as a whole, and his loss will be deeply felt by many.

“Donnacha was an integral part of Quilter Cheviot Europe, serving as Chief Investment Officer and Deputy Head of our Dublin office. Beyond his professional achievements, Donnacha was a kind, passionate, and decent man. His charismatic personality allowed him to form many friendships across our business.

“Joining us in 2003 as a founding partner of our Dublin office, Donnacha played a critical role in our success in Ireland over the past two decades. He cared deeply about the business, his colleagues, and our clients.

“His contributions and dedication have left an indelible mark on our company, and we will miss him immensely. Our thoughts are with Donnacha’s loved ones.”

Where advisers decide that a client is better suited to investing directly with Quilter Cheviot, that client will now pay 0.50% for Quilter Cheviot’s MPS, down from 0.75%. Meanwhile, clients coming directly to Quilter Cheviot will pay 0.70%, down from 0.90%.

The fee for investing via Quilter Cheviot’s own nominee arrangements includes both the investment management and Quilter Cheviot’s custody services. This move helps 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.

Furthermore, to increase the access available for financial advisers, Quilter Cheviot’s MPS has been added to Aegon’s and Nucleus’ platforms.

This latest move takes the total number of adviser platforms the Quilter Cheviot MPS is available on to 17, with it being accessible on some of the largest platforms in the market, as well as more specialist ones to increase the attractiveness for advisers. The business is also in discussions with other platforms to widen accessibility further.

Managed by Simon Doherty and Antony Webb, Quilter Cheviot’s MPS utilises a unique ’Building Blocks’ structure – a range of funds designed and actively managed by Quilter Cheviot, exclusively for use within its MPS.

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.

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.

“We are also delighted to be added to more quality adviser platforms. We work closely with advisers to understand where they want to access our MPS, and we have optimised the service in a way so that it can work with platforms in an efficient and seamless manner.”

The Manchester office will open in March and Mike Stirrup, formerly of Artorius Wealth and UBS, will join as a wealth planner, alongside Matthew Stevenson, who arrives from Evelyn Partners as a trainee investment manager.

According to LGT, the firm will continue to strategically build the team over the coming months, adding further expertise for clients in the wider Northwest region.

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In Birmingham LGT will move into new offices to accommodate the growth of its local presence with the addition of the team that joined following the acquisition of Abrdn Capital, as well as recent hire Tom Stone, who joined as investment manager from Quilter Cheviot.

“The growth of our regional footprint with these two new offices in Manchester and Birmingham, further highlights our dedication to bringing exceptional service to our clients and partners around the UK,” said Ben Snee, CEO of LGT Wealth Management.

“These cities have always been important to us and we will further develop our strengths in these regions with new talent and fresh perspectives that match our entrepreneurial ethos and dedication to client service,” he added.

She will begin in the new role in March.

Simmons joins from UBS Global Wealth Management, where she has worked for 20 years in various roles, more recently as CIO of its UK wealth management business since 2020.

In her new role, Simmons will be will be responsible for the firm’s investment process, as well as the day-to-day management of the equity, fund and fixed interest research teams. She will also join the firm’s executive committee.

Andrew McGlone, chief executive at Quilter Cheviot, said: “I’m delighted that Caroline will be joining Quilter Cheviot. She is a highly respected investment-focused leader and inherits one of the most established research teams in our industry who I have no doubt will continue to excel under her stewardship.

“Caroline’s significant experience will bring a fresh perspective to our business and our investment process, which is at the very heart of the personal service we offer clients.”

Simmons appointment follows the recent retirement of CIO Duncan Gwyther and the upcoming retirement of chief investment strategist Alan McIntosh.

“It is also a time to reflect on the immense contribution Alan and Duncan have given to our business over the years. They have been integral in developing our investment process, as well as providing valuable insight and guidance as members of our executive team, where they have contributed considerably to the oversight and day-to-day running of Quilter Cheviot, always with their care for the business and our people and clients at the forefront of their minds.”

This article was written for our sister title Portfolio Adviser

Available immediately, the firm is adding cautious and defensive portfolios to its existing range of strategies which include conservative, income, balanced, growth and global growth.

The cautious strategy focuses predominantly on fixed interest holdings, with approximately 20% held in equities.

While the defensive strategy will hold around 40% in equities, with the other 60% in fixed-interest and alternative investments.

The strategies will have an annual management charge of 0.25% on platform, with weighted underlying fund costs of 0.22% for the cautious version and 0.37% for the defensive strategy.

To read more on this topic, visit: Quilter Cheviot’s MPS available on three additional platforms

Simon Doherty, head of managed portfolio services at Quilter Cheviot, said: “Particularly in this market where fixed income and ‘safer’ assets are looking increasingly attractive, and the economic picture is clouded, clients need and deserve the widest range of choice possible to help make their investment decisions. With managed portfolios becoming increasingly popular, it is important that existing and potential clients have the options most suited to their needs.”

This news comes after the DFM arm of Quilter made its MPS available on three additional platforms in August this year.