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REVIEW SUMMARY

Rathbone Investment Management

Rathbone Plc is a UK headquartered provider of personalised investment management and wealth management services for private investors and trustees.

This includes discretionary investment management, unit trusts, tax planning, trust and company management, pension advice and banking services.

They are an independent FTSE 250 company that has been in business since 1742.

Rathbone Investment Management is regulated by the Jersey Financial Services Commission.
Overview
FAQ
Customer Reviews
Expert Verdict

Rathbones Investment Management says that you deal directly with investment managers, not salespeople or relationship managers.

Rathbone's investment analysts, compliance and back-office teams support advisers so they can take advantage of opportunities as they arise. They offer a choice of investments, spanning all asset classes, funds and wider structures that may not be open to all investors.

Rathbone Investment Management prides themselves on efficient, informative and accurate reporting. Valuations are sent quarterly – and their online service gives you access to information 24 hours a day.

Rathbone primarily has 3 offerings under their investment management services:

  1. Multi-asset portfolios
  2. Unitised portfolio service
  3. Individual portfolio service

1. Multi-asset portfolios: 

Rathbone Investment Management's multi-asset portfolios provide clients with access to investment resources. There are three UCITS IV funds in the range, which are available in GBP, EUR and USD (EUR and USD share classes are hedged).

They have a choice of three funds to suit investors with different objectives and appetites for risk.

2. Unitised portfolio service:

Rathbone Investment Management claims that the unitised portfolio service can offer clients a detailed and personal level of attention that you would typically receive from a discretionary portfolio. There are six strategies in the range, which invest in the multi-asset portfolios.

3. Individual portfolio service: 

The individual portfolio service offers a personal level of attention as well as access to their investment resources for clients with larger sums to invest. This service is targeted at individuals and families with financial arrangements that require a tailored approach to their investment.

Rathbone Investment Management's charging structure for advisers:

The rates they offer advisers depends on the level of business they do together. The rates can be summarised below:

Partnership rate

 Description
0.75% on balance over £5,000,000 Applicable for firms with more than £5m of client funds already managed by them in their unitised portfolio service and/or individual portfolio service, management fees will be reduced to a flat rate of 0.75%.

For firms qualifying for their partnership rate, the use of external discretionary managers usually forms a normal part of their client investment proposition.

 

Standard rate

 Description
Individual portfolio service
1.00% on first £2,000,000
0.75% balance over £2,000,000		 Applicable for firms choosing Rathbones infrequently for their clients.

For firms of this type, the use of a discretionary management firm is unlikely to be a core part of the client investment proposition.
Unitised portfolio service
0.75%


These rates can change from time to time and we would recommend checking Rathbone Investment Management's website for more information.

NOTE:

We would recommend reading the 'expert verdict' section of this independent review to learn why our experts gave Rathbone Investment Management's DFM services only 2 out of 5 stars.


 

The Pros

> Good online facilities
> Good administration

The Cons

> Can be expensive
> Pays retrocession commission to your adviser which can create conflict
What are the online services offered by Rathbone Investment Management?

When an adviser registers for Rathbone Investment Management's online service, they will have access to a range of portfolio information, 24 hours a day, seven days a week. This includes:

  • real-time valuations - gives you instant access to the value and status of your clients’ investment portfolios
  • secure data - your clients’ personal details are delivered safely 
  • dedicated support - a dedicated team is available to answer any technical queries (8am-6pm Monday-Friday, excluding bank holidays).
Is Rathbone's investment process any good?

Rathbone claims that their investment process is designed to meet each client’s individual requirements, and that their investment managers have the freedom to find the best options for each client’s goals, selecting from an unrestricted choice of investments.

Rathbone also state that this “includes asset classes, funds and other structures that may not be open to all investors”.

For us, this rings alarm bells, because freedom may sound exciting but it is inherently more dangerous and risky.

As for asset classes, funds and structures that “may not be open to all investors,” we worry about liquidity and the ease of selling such investments.

Rathbone Investment Management go on to state that “not all firms give their managers this flexibility” – we believe there is a good reason for this! 

Inconsistent performance

Never got consistent results from my investments with Rathbone and it was really disappointing.

While I understand that markets fluctuate, I'm quite certain it doesn't perform badly all the time. I am reading reviews and researching others to switch away from Rathbone - found this website useful.

Expert assessment of Rathbone Investment Management

While Rathbone is a respected name and they provide a range of international actively managed DFM solutions, we believe that there are better and more cost-effective alternatives.

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

Rathbone Investment Management - Individuality Brochure

Rathbone Investment Management - International Discretionary Services Rates

Rathbone Investment Management - Multi-Asset Portfolio Service

Rathbone Investment Management - Unitised Portfolio Service

Rathbone Investment Management -Individual Portfolio Service

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