Smith & Williamson has been appointed by Truro-based independent financial advisers Worldwide Financial Planning to provide its 5-star Defaqto* rated managed portfolio service (MPS) to clients.
The announcement means that Worldwide’s clients will be given access to Smith & Williamson’s six core models, which range from Defensive (lower risk) to Growth (higher risk), depending upon investors’ investment objectives and attitude to risk. In addition, a seventh portfolio is being specifically designed for Worldwide to offer clients income and growth.
The models are actively managed and built using a range of investment tools including open-ended funds, investment companies and exchange traded funds (ETFs). As part of the new partnership, Worldwide’s core client assets will continue to be administered by the Standard Life platform.
Simon Funge, managing director at Worldwide Financial Planning, commented: “Partnering with Smith & Williamson gives us access to the firm’s extensive investment research and allows us to focus on the financial planning needs of our clients. We appointed Smith & Williamson following a competitive pitch and what has impressed us is how the MPS managers blend together different investment tools including investment companies.”
Peter McGahan, CEO at Worldwide Financial Planning added: “We assessed a number of possible partners, from both a quantitative and qualitative perspective, before appointing Smith & Williamson. By working with Chris Rowe, a financial planner in our investment and advisory team, we have also been able to ensure the proposition will deliver the functionality our clients require.”
Mickey Morrissey, partner and head of distribution at Smith & Williamson Investment Management, added: “We’re delighted that Worldwide Financial Planning is making our managed portfolio service available to its clients. Worldwide is well-regarded in the industry and partnering with us gives the firm the ability to offer a cost-effective service to investors as it continues to grow.”
*The Smith & Williamson managed portfolio service has been awarded a 5-star Defaqto rating in 2014, 2015, 2016, 2017 and 2019
By necessity, this briefing can only provide a short overview and it is essential to seek professional advice before applying the contents of this article. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication. Details correct at time of publication.
Notes to editors
Smith & Williamson is an independently owned professional and financial services group with over 1,800 people. The group is a leading provider of investment management, financial advisory and accountancy services to private clients, professional practices and mid-to-large corporates. The group has twelve offices; these are in London, Belfast, Birmingham, Bristol, Cheltenham, Dublin (City and Sandyford), Glasgow, Guildford, Jersey, Salisbury and Southampton.
Investment does involve risk. The value of investments and the income from them can go down as well as up. The investor may not receive back, in total, the original amount invested. Past performance is not a guide to future performance. Rates of tax are those prevailing at the time and are subject to change without notice. Clients should always seek appropriate advice from their financial adviser before committing funds for investment. When investments are made in overseas securities, movements in exchange rates may have an effect on the value of that investment. The effect may be favourable or unfavourable.
Smith & Williamson Investment Management LLP.
Authorised and regulated by the Financial Conduct Authority.