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Adam & Co targets advisers with new wealth service

Adam & Co targets advisers with new wealth service

Adam & Company has launched a discretionary portfolio management service for financial advisers.

The offering will consist of three portfolios: Balanced, Growth, and Income and Capital. These will be run by the firm’s 14-strong investment team.

While the average client size being targeted for the service is £1 million, investors can access the service with smaller amounts.

The portfolio management fee for the service ranges from 1% to 0.45%, for those with £250,000 or over £5 million to invest, respectively. An additional investment platform fee is levied on this amount, which means the total charges range from 1.35% to 0.5%.

The underlying fund charges are estimated at around 0.31%.

The investment approach will see the portfolios invest over 50% in equities.

‘Adam is managing £1.6 billion, we have long-standing client relationships, and we are discrete, experienced and consistent,’ said Anna Miller, investment director of Adam & Company.

‘The world is changing. We have advisers who are looking for discretionary fund managers like ourselves, so we have now created a method to do that.’

Graham Storrie, chief executive officer, said: ‘This is a fantastic addition to our already market-leading investment proposition. I am delighted to have Anna Miller on board and leading on our investment service to third party advisers.’

Miller joined the Royal Bank of Scotland subsidiary in September 2017. During her career, she has held various wealth management positions at Barclays and Investec Wealth & Investment.   

Storrie added: ‘Adam Investments remains a key focus and priority for Adam & Company and I have recently appointed Stuart Dickson as head of research and specialist investments to support Susan [Boyd] and Mark [Ivory] in the leadership of the investment team.’

The range has been up and running since the start of April and is available on the Suggestus platform, as well as directly from the bank.

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