DeVere, which terms itself the ‘world’s largest independent international financial consultancy’ has $90bn of funds under advice and around 70,000 clients.
It has traditionally been geared towards expatriates but in September 2011 appointed Kevin White to head up its UK operation as managing partner and said it planned to take on new clients.
Nigel Green, CEO of deVere Group, said of its relationship with J.P. Morgan: “We are delighted to be able to include the JPM Fusion Funds, a truly pioneering, actively-managed range designed specifically for the RDR era, within the carefully considered product suite we introduce to clients.
“This expansion underscores our commitment to forming and enhancing strong alliances with market-leading firms to give our financial advisers the opportunities to provide the best of the best to their clients.”
As reported on our sister website International Adviser, White acknowledged back in 2011 that some might see the timing of deVere’s push into the UK market odd, given predictions of a shrinkage in advisory business post-RDR.
But he added the group had nothing to fear from the RDR, and indeed all of their UK-based advisers are RDR-qualified.
JPM’s Fusion Fund suite is positioned across the risk spectrum and consists of five strategies: Income, Conservative, Balanced, Growth and Growth Plus.
The firm has combined members from both its investment management and private banking divisions to work on the funds, in a team headed by Jonathan Shelon.
Lanning will be lead fund manager in the team when he joins in May. The funds are designed to be whole-of-market and will invest in other collectives.
Jane Nicholls, head of UK client solutions at JPM asset management, said: “Our size and scale enable us to tap into asset classes and share classes that more traditional fund-of-funds offerings in the market are unable to access.
The range is risk-rated by Distribution Technology and Barrie & Hibbert and is available through platforms for intermediaries, with a clean fee share class charging 0.75%.
DeVere Group said JPM were not he exclusive provider of whole of market solutions to its advisers.
