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REVIEW SUMMARY

Quilter Cheviot

Quilter Cheviot is a major player in the UK within the Discretionary Fund Management (DFM) arena and is owned by Quilter International (formerly known as Old Mutual International). It manages just over £18 billion of assets. 

Their Discretionary Portfolio Service is offered to clients with upwards of £200,000 to invest. The Managed Portfolio Service is offered to those with £25,000 or more to invest.

The Discretionary Portfolio Service is a bespoke investment management solution for higher wealth individuals. 
Overview
FAQ
Customer Reviews
Expert Verdict

Quilter Cheviot investment managers work with financial advisers and their clients to determine their investment requirements and objectives, and to build a portfolio that’s right for them.

Quilter Cheviot has extensive experience working with financial advisers, enhancing the service they offer, by providing access to their investment management expertise, also alleviating them from some of the regulatory responsibility associated with investment management.

This approach allows the financial adviser to act as an advocate for their client, actively challenging what Quilter Cheviot does and says, which arguably preserves the primary relationship of the financial adviser and underlying client.

 

The Pros

> Strong brand
> Traditional approach to beating markets
> Secure

The Cons

> Expensive way to invest
> Active methodology is academically questionable
> Pays retrocession commission to your adviser which can create conflict
Who is Quilter Cheviot's Managed Portfolio Service (MPS) aimed at?

The Managed Portfolio Service (MPS) is aimed at those with lower amounts to invest, but who nevertheless require a rigorous, disciplined and structured approach  be applied to the investment of their capital.

The MPS offers a comprehensive range of collective model portfolios.

With seven strategies to choose from (cautious, conservative, income, global income, balanced, growth, global growth) they deliver a portfolio of investment funds that will meet client’s personal financial objectives and preferred level of risk.

All the strategies invest exclusively in collective investment schemes to provide greater diversification.

Quilter Cheviot’s investment managers have an average of 19 years’ experience, with research analysts to support their decision-making.

Where are Quilter Cheviot based?

Offices are in the UK, Jersey, Dublin and Dubai. A separate company under Quilter International, Quilter Cheviot Limited in the first half of 2016 launched in the Dubai International Financial Centre regulated by the Dubai Financial Services Authority.

How often will I get reports on my investments?

By way of proactive contact with investors, Quilter Cheviot promises six-monthly reports on investments.

What is Quilter Cheviot's investment process?

The firm says of its investment process, “our objective is to identify future trends and formulate an appropriate investment strategy for your portfolio”.  There is no overarching philosophy, rather managers invest through a “constantly evolving process”.

Quilter Cheviot are newly venturing into some international regions, and enabling clients to access a quality investment process is a good sign of improvement in the industry.

All that experience and resource does not come cheap though, and adding a DFM management fee (Quilter Cheviot estimate the total account charge to be around 1.2% for the Discretionary Portfolio Service) to the layers of charges already present through an offshore insurance bond, and commission based offshore financial adviser, means that portfolios will be having to work even harder just to stand still.

What are Quilter Cheviot's fees and charges

Fees and charges depend on the service offered.

In addition, your financial adviser will very likely charge a fee.

On their website Quilter Cheviot state:

We charge a quarterly management fee, calculated as a percentage of your portfolio. This includes all aspects of portfolio management, reporting, review meetings, administration and, where appropriate, any costs for providing custody of assets. Our discretionary management fee will be subject to VAT, although there are some exceptions.

And for advisers:

If you wish to take an adviser charge on your client’s portfolio, your client should complete our adviser charging form, which is on the reverse of our Schedule of Charges. We will deduct the agreed charge quarterly and pay this to you. Please take care when considering the VAT position of your adviser charge.

No advice offered

My IFA bundled me in with these guys. Then when he moved location and I needed advice, I was told "Quilter Cheviot focuses entirely on the provision of investment management services. We do not provide financial advice." I was fairly satisfied until that point.

Expert Assessment of Quilter Cheviot

Whilst Quilter Cheviot is a respected name and they provide a range of international actively managed DFM solutions, we believe that there are still better and more cost-effective alternatives for senior international professionals.

If you already have a Discretionary Managed Portfolio with Quilter Cheviot and it is worth £250,000 or more, we recommend you get a Second Opinion to ensure you are on track to get and keep the life you want.

Quilter International and Quilter Cheviot Brochure

Quilter Cheviot Private Client Brochure

Quilter Cheviot - A Guide To The Discretionary Portfolio Service

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