The service consists of five multi-asset portfolios across the usual risk levels, managed by head of research Jonathan Moyes and his team. Moyes previously co-managed £400m of discretionary portfolios at Whitechurch Securities.

Investments will be made across a range of asset classes including bonds, equities, property, infrastructure and private equity. The portfolios will contains a blend of passives, actively managed funds and investment trusts.

There will be 35-50% invested in each of passive and active funds, and 10-20% in investment trusts. The minimum investment across all portfolios is £100,000. ISA and SIPP wrappers can be used.

The average ongoing cost for the new offering, including management, platform and ongoing fund charges, is 1.08%. Wealth Club said this will mean lower costs than going through an adviser, and a similar amount to managing a typical fund portfolio on a DIY platform.

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Alex Davies, founder and CEO, said: “The Wealth Club Portfolio Service has been a number of years in the making. The idea was born out of personal experience. I have been investing since my teens and built a significant portfolio of funds and shares in ISAs, pensions and just on their own.

“While many of these made sense at the time, the result is a mish mash of different funds and shares. I wasn’t quite sure if they fitted together any more, and managing them myself was getting very cumbersome.

“And I know I’m not alone,” he added. “Many friends and clients tell us the same thing regularly. The truth is that, despite the proliferation of innovative digital investment services, the wealthier, more sophisticated part of the market remains underserved.”

Moyes added: “Each portfolio will invest across low-cost index funds, specialist actively managed funds and investment trusts. Investors can typically expect each portfolio to be invested across 30-45 funds.

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“Combining this investment approach with an online service means we can offer our clients a sensible well diversified investment portfolio. And, because the service is delivered online, at a low cost.

“We are particularly pleased to champion the use of investment trusts within our portfolios. The investment trust sector includes some real gems and allows us to boost diversification, providing access to less liquid assets such as infrastructure and private equity.”

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.

BNY Mellon PinPoint provides insights aimed at helping advisers to make informed investment decisions to build more resilient and refined model portfolios, while considering factors including their clients’ investment objectives, risk appetite and time horizon.

The service also provides advisers access to asset class research, risk factor analysis, stress testing based on current market conditions and historical performance data, manager research, objective-based investing, global macro context and market analysis, and tactical insights.

Advisers can compare one fund with another or see the impact from combining funds in a portfolio using the service.

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PinPoint launched in the US two years ago and, after what BNY Mellon IM global head of distribution Matthew Oomen described as a huge take up among advisers, it plans to grow the service to Emea.

Oomen, global head of distribution told UK Adviser: “Markets are more complex than ever and what clients need is greater insight into how their portfolio is constructed and how it would behave in different macro scenarios.”

“We created BNY Mellon PinPoint to help advisers position their portfolios for any market environment based on sophisticated risk analytics with a seamless, customisable digital experience. This experience also includes access to the full breadth of services, products and investment capabilities of BNY Mellon, which touches 20% of the world’s investable assets.”

“With BNY Mellon PinPointSM, we’re delivering a client-centric investment solution,” added Eric Hundahl, Head of Portfolio Strategy at BNY Mellon IM.

“From our initial rollout of the tool in the U.S., the feedback we received was positive – information was easy to digest, and the actionable steps communicated in order to strengthen portfolios were a game changer. We look forward to rolling this out to clients in the UK and Europe.”

In August, BNY Mellon launched the BNY Mellon Multi-Asset Moderate Fund, which is managed by head of mixed assets at Newton IM Paul Flood.

It followed the launch of its FutureLegacy multi-asset range back in February.

As part of the collaboration, Collidr will manage the current range of four portfolios that use Worthstone’s proprietary technology and screening techniques to shortlist funds.

Collidr will then use its ‘Quantimental’ investment approach, applying behavioural research and AI-driven technology to screen and select suitable funds for portfolios.

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Collidr chief executive Symon Stickney, said: “We’re delighted to be partnering with Worthstone. We each bring best-in-class technology to the table – that means advisers and their clients get access to the most transparent and user-friendly sustainable portfolio service on the market.”

Chief executive and founder of Worthstone Gavin Francis, added “This is a very exciting development in the evolution of Wellth’s Sustainable Investment Portfolios. Collidr is a significant provider of model portfolios to the UK intermediary market.

“The combination of our capabilities provides a market leading product to advisers and investors looking for sustainable investing solutions.

“We believe that authentic sustainable portfolios providing transparency and dynamic reporting will be attractive to many advisers.”

The UK Managed Portfolios Landscape report analyses some 1,100 UK managed portfolios looking at their allocations, use of underlying investments, performance and costs.

It found that the vast majority of managed portfolios are multi-asset offerings with 93% classified in Morningstar allocation categories.

With the two most popular categories being GBP Allocation 40-60% Equity at 26.3%, and GBP Allocation 60-80% Equity at 24.9%.

The number of new managed portfolio launches reported to Morningstar has fallen, down from 210 in 2020 to just five this year so far.

Compared to 2022, the overall proportion of managed portfolios described as passive in terms of holdings by their provider increased to 29% from 23%.

Tom Mills, senior analyst multi-asset and alternatives at Morningstar, said: “The drop in the number of managed portfolio launches this year demonstrates the market is reaching maturity after we saw such rapid growth in the previous five years, with many providers now having established sizeable ranges spanning active, passive, blended and sustainable offerings.”