Salford-based investment platform AJ Bell Investcentre said on Monday it launched a new service which will give advisers and their clients access to Managed Portfolio Services (MPS) from external Discretionary Fund Managers via its platform for the first time. 

“The third-party MPS will sit alongside the existing AJ Bell MPS option and the AJ Bell multi-asset funds, giving advisers access to a range of outsourced investment solutions to help manage their clients’ portfolios,” said AJ Bell. 

“The new service initially gives advisers access to managed portfolios from FE FundInfo and LGT Vestra, with Brewin Dolphin due to be added to the service soon.

“More third-party MPS partners will be added over time in line with demand from financial advisers.

“The third-party MPS is available via AJ Bell Investcentre’s Retirement Investment Account, SIPP, ISA and General Investment Account.

Clients will continue to pay AJ Bell’s existing platform charge when using the new service and the charge levied by the third-party MPS provider.”

Billy Mackay, marketing director at AJ Bell Investcentre, said: “Expanding our model portfolio service to include external portfolios alongside our own investment solutions is something advisers have asked us for and we are pleased to be able to offer it.

“Advisers will now be able to utilise the investment expertise of a carefully selected panel of third-party MPS providers, while benefiting from our platform’s competitive charges, excellent service and intuitive functionality.

“It gives them more choice to help service their clients’ needs and we will be adding more MPS partners to expand the service further.”