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Thomas Miller Investment launches low-cost model portfolio service


Thomas Miller Investment has launched a low cost model portfolio service to be offered through financial advisers. The annual management charge is 0.4 per cent per annum plus platform fees.

Thomas Miller Investment’s new offering will provide access for investors with over GBP50,000 to invest in a range of model portfolios, which invest in the same securities as the firm’s largest institutional clients. The launch is a response to the need for competitively priced, transparent investment solutions in the post RDR world.
The combination of Thomas Miller Investment’s long term investment approach and security selection process means that the total expense ratio is likely to be considerably lower than other model portfolio services, particularly those offering fund of funds.
Additionally, the new model portfolios have been risk mapped by FinaMetrica on a scale of zero to 100 against the risk profiling tools it provides to financial advisers. This allows the financial adviser to immediately identify the most appropriate portfolio for each of their clients using the FinaMetrica system. The model portfolios cover a range of risk/return profiles and will invest directly in equities and bonds where appropriate, as well as active and passive funds.  This provides low cost exposure to Thomas Miller Investment’s considerable asset allocation and portfolio construction expertise.
Des Hogan, head of business development, Thomas Miller Investment, says: “The launch of our model portfolio service enables financial advisers to provide an efficient discretionary fund management service to a wider range of clients. Our collaboration with FinaMetrica assists advisers in recommending the appropriate model portfolio for their clients’ risk profiles. Our transparent, highly competitive charging structure and low total expense ratio will give financial advisers more freedom to address client needs and enables them to better explain and justify new charging structures for advice.
“We take a long term view when investing, reflecting our clients’ investment time horizons and our investment philosophy. Our new offering presents the opportunity for a much larger number of investors to share in our long-term investment ethos. While the market can be distracted by noise in the short term, it is efficient over time, and our model portfolios will afford smaller clients the opportunity to gain exposure to our proven risk and investment management expertise.”
Paul Resnik, director at FinaMetrica, says: "The FCA have identified advisers as carrying core responsibility for their investment suitability process. Advisers must not only be able to prove that the tools and investments they elect to work with are fit for purpose but they must also recognise and compensate for any inefficiencies. Clarity of intent and transparency are clearly imperatives that must be met to meet that goal. Consequently we are delighted to be working with Thomas Miller Investment to assist adviser’s meeting of those obligations just a little easier."
The new Discretionary Fund Management proposition will complement Thomas Miller Investment’s existing discretionary investment management services for private clients with assets in excess of GBP250,000.

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