Kleinwort Benson launches tailored DFM service for IFAs

Private bank and wealth manager Kleinwort Benson has unveiled a new discretionary fund management service for IFAs.

The firm already has a risk-profiled range of six portfolios that are audited by Distribution Technology.

Kleinwort Benson head of UK financial intermediaries Jeremy Hippolite says the plan is also to work with certain larger IFA businesses to offer a tailored portfolio service.

“Our approach is to work very closely with a few dozen firms, which enables us to provide high quality service and support to those firms that genuinely want a strategic relationship with their DFM,” he explains.

“This is a further demonstration of our commitment to provide an excellent level of service to clients and the professionals who advise them.”

The firm recently sealed a DFM partnership deal with Ergowealth, an IFA firm founded by former Defaqto chairman Alastair Whitehead.

Kleinwort Benson head of discretionary fund management Leigh Philpot says the new bespoke service sits well with the cash management, private banking and credit services it already offers.

“Our partners tell us that Kleinwort Benson’s contrarian style, with a focus on risk budget, provides a very attractive alternative to other DFMs,” he adds.

Kleinwort Benson model portfolios:

Name Return Benchmark Distribution Technology Risk Profile

Cautious

6.8%

10.1%

3

Balanced

15.3%

15.2%

5

Income

23%

15%

5

Growth

27%

19%

6

Growth & Income

26%

19%

6

Aggressive

28.4

23.2%

7

Performance since inception (March 2012) to end June 2014. Performance calculated by ARC (Asset Risk Consultants). Benchmark ARC PCI indices.