The partnership will see Wellian construct the collective investment suite using its SEMAFOUR and PORTCULIS quantitative processes.
Wellian chief investment officer Richard Philbin and investment director Chris Mayo will oversee management of the portfolios, one of which is currently available on its Nucleus wrap.
Chris Gilchrist, FiveWays director, said: “Many people talk about outsourcing to investment managers.
“We much prefer the insourcing approach of Wellian as it allows us to work with their people, philosophy and process as genuine partners and ensure that the portfolios align fully with our risk and suitability assessment process. In a world where we are accountable to our clients we need to demonstrate that we are an integral part of the investment process.”
Alan Durrant, Wellian CEO, added: “We expect many more advisers to switch to the insourced model to provide them with a far more robust audit trail and also a deeper understanding of what is happening in portfolios, which can then be shared with clients to demonstrate added-value.”
The announcement comes three months after Wellian was acquired by Harwood Capital in May.
