AJ Bell has launched a suite of multi-asset passive funds to meet rising appetite for low-cost portfolios.
The risk rated portfolios’ ongoing charges will be capped at 0.5%.
Investors’ will be able to choose between five risk profiles - cautious, moderately cautious, balanced, moderately adventurous, adventurous.
The range will be run by AJ Bell’s investment team including head of fund selection Ryan Hughes and head of investments Leon Diamond, .
‘Advisers are increasingly turning to passive investment solutions to keep costs low for their clients and many are choosing to outsource investment management to third parties so they can focus on their core financial planning services,’ said chief executive Andy Bell (pictured).
He added the firm has decided to waive its platform fee until at least January 2019.
Last week, discretionary manager Copia Capital Management launched a range of exchange-traded fund (ETF) managed portfolios purpose-built for retirement income.