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.

Kevin Whitmore of WBR Group was also elected to the committee, which represents the interests of over 120 member firms, including SIPP and SSAS providers, advisers, banks, investment managers and other service providers.

Following the committee’s annual conference its members have opposed the DWP’s consultation on the general levy on pension schemes.

To read more on this topic, visit: Pensions not a ‘top priority’- industry reacts to cabinet reshuffle

It proposes to increase the levy rates for schemes with less than 10,000 members, potentially including SSAS, by an additional £10,000 from 2026.

Arguing that it would be unfair and disproportionate to the small schemes sector and would discourage the use of SSAS as a flexible and cost-effective pension vehicle for business owners and entrepreneurs.

Andrew Phipps, chair of the AMPS, said: “We are deeply concerned about the DWP’s proposals to increase the general levy for small schemes, which we believe are unjustified and detrimental to the SSAS market. We urge the DWP to reconsider its approach and to engage with the industry to find a more reasonable and sustainable solution.”

The research also found that fewer than half (45%) of UK adults have ever seen a financial adviser.

Over one in five (21%) of those surveyed who do not have a financial adviser said they believe they do not have enough wealth to warrant one.

In addition, 11% said that they do not trust financial advisers and 9% said they were put off by “pushy sales techniques”.

To read more on this topic, visit: 75% of advisers concerned about inflation when considering retirement income for clients

The research also revealed that those who do consult a financial adviser on an ongoing basis value the relationship for a few different reasons.

Which include access to someone who understands their financial situation (19%), peace of mind (19%) and the knowledge that advisers are regulated (18%).

Regret

Some 12% also said that they regret not seeing a financial adviser in the past.

The top-three biggest regrets were worrying they now do not have enough money to fund retirement (35%), underestimating the impact of inflation (31%) and losing money (27%).

Respondents who have spoken to an adviser in the past five years were asked to indicate how they think the relationship with their adviser will need to adapt or change in the future.

The majority (23%) referred to a need for increased communication and updates, involving more regular check-ins, performance reviews and adjustments as circumstances change.

Tom Evans, managing director of retirement at Canada Life, commented: “Closing the advice gap is clearly not a straightforward issue.

“In fact, we should be honest with ourselves and recognise there will always be an advice gap borne from people’s lack of willingness to engage, and advisers’ capacity to service. But that shouldn’t mean as an industry we don’t try to do a better job of communicating and marketing both the benefits and value of financial advice.

“Clearly trust or a lack of it is still a factor that continues to plague the advice market. The fact that one in five people would not see an adviser even if it was free, is quite shocking.

“Why would a customer seek mortgage advice but be confident enough to choose the right path to retirement without advice? We need to be bold and challenge the current status quo, while also recognising that to serve a wider customer group, we need to embrace technology alongside attracting more advisers into the profession.”

Brooks will be responsible for the distribution of the firm’s range of technology-enabled adviser solutions reporting to Ben Sears head of UK solutions.

He joins after 10 years at LGT Wealth Management, where he was a partner. His role there focused on managing key adviser relationships across the southwest of England.

To read more on this topic, visit: Moneyweb partners with asset manager on bespoke MPS

Commenting on Brooks’ appointment Sears said: “David brings deep expertise in working with financial-planning firms to deliver quality investment solutions. It is a hugely exciting time for our business as we partner with leading financial planning firms, enhancing their offering through our multi-asset, technology-enabled investment solutions.”

Brooks added: “PAM’s modern approach is refreshing for the sector. The firm’s entrepreneurial approach and ‘can-do’ culture were major attractions for me.”

The survey revealed that more than a third (35%) of respondents retired without first assessing whether they could afford to do so.

In addition, one in seven (14%) stated that they ran out of time to make any plans as they were forced to retire earlier than expected.

One-in-10 consulted a financial adviser

The research also found that fewer than one-in-10 (8%) consulted an independent financial adviser (IFA).

With 3% saying they met with an IFA through their employer and 6% saying that they had used the government’s guidance service, Pension Wise.

To read more on this topic, visit: 3.4m over 75s yet to arrange a Power of Attorney

Some people took a DIY approach and made their own calculations as over a third (34%) said that they had conducted a full review of their savings, looking at their likely incomings and outgoings.

A further 10% said that they had spoken with their friends and family for informal help and 6% had used other sources of support.

Stephen Lowe, communications director at Just Group, commented: “Many people are at risk of being caught in a retirement ‘blind spot’ where they’re vulnerable to events unexpectedly knocking them off course.

“There is a lot to weigh up including whether you want to stop work immediately or go part time; how long you can reasonably expect to need a retirement income; making gifts and leaving inheritances; and how you might meet the cost of later life care if it’s needed.

“Things rarely go exactly as expected but having a plan will make it easier to understand your options and handle life’s surprises.”

Lowe added: “Receiving financial advice remains the gold standard for preparing financial plans ahead of retirement and, if possible, we’d encourage people to explore this option.

“The advent of the digital world means there are some lower-cost online and hybrid solutions available for guidance or advice. At the very least people should make sure they take up their entitlement to use Pension Wise, which provides free pension guidance.”