Quilter Cheviot has reduced the fees for its MPS offering for clients through nominee arrangements.
For advisers that have determined a client’s money should be directly invested into the MPS, the fee will lower from 0.75% to 0.50%. For clients who come directly to Quilter Cheviot, the fee will lower from 0.90% to 0.70%. The fee includes the investment management as well as custody services.
Quilter Cheviot’s MPS has also been added to Aegon’s and Nucleus’s platform, now available on 17 platforms in total. The MPS is managed by Simon Doherty, who joined the firm in 2007, and Antony Webb, who started at Quilter Cheviot in 2010 and returned in 2017 after a year with Investec.
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David Butler, head of distribution at Quilter Cheviot, said: “It is important for suitability that clients have that choice and are invested in the way that is right for them. Having the total cost of ownership for custody MPS at a similar level as on platform MPS is a good way to provide that choice to advisers and clients and make it much easier to compare services.
“We are also delighted to be added to more quality adviser platforms. We work closely with advisers to understand where they want to access our MPS, and we have optimised the service in a way so that it can work with platforms in an efficient and seamless manner.”
