Marlborough is set to take over as investment manager for up to £125m of assets formerly managed by Whitechurch Securities. This follows Ascot Lloyd’s acquisition last year of Whitechurch, a wealth manager and discretionary fund manager (DFM).

The assets are managed by Whitechurch’s DFM team for clients of other adviser firms. They are held on its online investment platform, Pulse, and other platforms. However, as a result of Ascot Lloyd’s acquisition of Whitechurch, the DFM portfolio management service for clients of third-party advisers will no longer be available. In addition, the Pulse platform will be decommissioned.

Marlborough and Ascot Lloyd have a strategic relationship and have reached an agreement under which those affected by the changes will be offered the opportunity to transfer to Marlborough. The board of Whitechurch have written to advisers and their clients telling them the service is coming to an end and highlighting the opportunity to transfer into Marlborough’s managed portfolio solutions (MPS) range.

Additional options include Marlborough’s bespoke discretionary portfolio management service, Personal Portfolio, and the group’s international multi-asset portfolios domiciled in Ireland. Those selecting the MPS option and with portfolios currently held on Pulse may be moved to the Select Platform, operated by Graphene.

Richard Goodall, CEO of Marlborough, said: “These are exciting times at Marlborough, as we continue to turn our ambitious plans for growth into reality. We’re very much looking forward to working with these advisers and helping them move their clients across to our portfolios in a seamless transition that’s positive for all involved.

“Looking ahead, our plan is to work in partnership with these advisers over the long term. We’re committed to helping them grow their businesses by providing first-class outcomes for their clients. The performance of our MPS portfolios is comparable to the best in the industry, but we believe advisers also have the right to expect outstanding service and that’s exactly what we provide.”

Francis Jackson, CEO of Ascot Lloyd, said: “At Ascot Lloyd we’re focused on the delivery of clear, expert financial advice via our own advisers. Strategically, we therefore believe that Marlborough are well placed to service this group of third-party advised clients.”

Two members of Whitechurch’s business development team – Phil Miller and Catriona Inglis – have transferred across to similar roles at Marlborough to help ensure a smooth transition and continue to build strong long-term relationships with the advisers.

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This article is provided for general information purposes only and should not be construed as personal financial advice to invest in any fund or product. These are the investment manager’s views at the time of writing and should not be construed as investment advice. The opinions expressed are correct at time of writing and may be subject to change. Capital is at risk. The value and income from investments can go down as well as up and are not guaranteed. An investor may get back significantly less than they invest. Past performance is not a reliable indicator of current or future performance and should not be the sole factor considered when selecting funds.

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