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