Discretionary Fund Manager Seven Investment Management (7IM) has launched a cautious portfolio within its passive model portfolio service (MPS).

Quilter Cheviot has launched a range of eight reduced-cost ‘Building Blocks’ funds to its managed portfolio service (MPS) service.

The Financial Services Compensation Scheme has declared Nottingham-based DFM Clear Capital Management in default.

A considerable growth in the number of available MPS solutions is helping to drive down charges, according to adviser data provider Defaqto.