Brewin Dolphin to cut managed portfolio service costs by £3m a year following funds switch

Moving to segregated mandates

Brewin Dolphin is set to reduce the costs on its Managed Portfolio Service (MPS) by £3m a year, as it moves the bulk of its investments with third-party managers from retail funds to segregated mandates.

The move will take place between February and May 2018, with the reduction passed on to advisers' clients through the ongoing charges figure (OCF) of the underlying fund holdings. Transaction costs are also expected to decrease due to lower portfolio turnover. Brewin Dolphin adds passive range to managed portfolio service The largest reduction will be on the Global Equity portfolio, which will see the OCF drop by 27% from 69bps to 51bps.  Brewin Dolphin said it will take no fee from the new manager of manager funds but will continue to be remunerated for the service at the same lev...