Legal & General’s asset management division has partnered with Blue Sky Financial Planning to deliver its model portfolio service proposition.
As part of the collaboration, L&G will provide a range of multi-asset solutions for Blue Sky’s clients across the UK.
It will also manage the rebalancing of the model portfolios to ensure that investments remain aligned with Blue Sky clients’ risk profiles.
These portfolios will include a completion portfolio, which contains a selection of best-in-class active managers ,as well as L&G’s in-house funds.
L&G will also provide wrap-around services.
These include supporting Blue Sky for end client updates on strategy and regular investment updates from L&G’s asset allocation and distribution teams.
L&G will take on the management of risk and mandatory due diligence required, as well as looking after compliance and reporting functions.
Meanwhile, Blue Sky will focus on delivering financial advice for their clients.
The partnership builds on the momentum of L&G’s MPS business, which first launched three years ago.
With over 50 clients and partners, the MPS offering is now available across 12 of the major platforms, including Aegon, Quilter and Transact.
The core MPS range is made up of 21 portfolios, across three investment styles – index, blended and ESG – as well as seven different risk profiles.
The L&G proposition also includes a platform programme and adviser hub that can be white labelled to suit adviser needs.
Head of UK wholesale, Legal & General asset manager, Ben Cherrington, said: “L&G has made considerable progress with the growth of our MPS business, welcoming new clients, partners and platforms in recent months.
“Our combination of scale and investment expertise means we are well positioned to offer clients like Blue Sky tailored and robust investment propositions at a competitive price.”
Blue Sky Financial Planning CEO, Gary Neild, added: “We are delighted to further strengthen our relationship with Legal & General’s asset manager.
“Over the years we have enjoyed a healthy and respectful working relationship that has undoubtedly, benefitted our clients.
“The prospect of being able to offer our clients a bespoke, tailored model portfolio service with one of the largest asset managers in the world is exciting.”
The model portfolios will be managed by Francis Chua, alongside L&G’s Asset Allocation team, which is made up of 40 investment professionals.
The team has established a dedicated risk-management framework and governance committee to ensure that portfolios remain on track.
They will work in partnership with the solutions team, which oversees £200bn of institutional client portfolios.
Blue Sky is an employee-owned chartered financial planning firm based in the South-West of England.
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