Smith & Williamson has been appointed by Truro-based independent financial advisers Worldwide Financial Planning to provide its 5-star Defaqto rated managed portfolio service to clients. 

The announcement means that Worldwide’s clients will be given access to Smith & Williamson’s six core models, which range from Defensive (lower risk) to Growth (higher risk), depending upon investors’ objectives and attitude to risk. 

Meanwhile, a seventh portfolio is being specifically designed for Worldwide to offer clients income and growth.
 
The models are actively managed and built using a range of investment tools including open-ended funds, investment companies and exchange traded funds (ETFs).

As part of the new partnership, Worldwide’s core client assets will continue to be administered by the Standard Life platform.  

Simon Funge, managing director at Worldwide Financial Planning, said: “Partnering with Smith & Williamson gives us access to the firm’s extensive investment research and allows us to focus on the Financial Planning needs of our clients.

“We appointed Smith & Williamson following a competitive pitch and what has impressed us is how the MPS managers blend together different investment tools including investment companies.”
 
Peter McGahan, CEO at Worldwide Financial Planning added: “We assessed a number of possible partners, from both a quantitative and qualitative perspective, before appointing Smith & Williamson.

“By working with Chris Rowe, a Financial Planner in our investment and advisory team, we have also been able to ensure the proposition will deliver the functionality our clients require.”
 
Mickey Morrissey, partner and head of distribution at Smith & Williamson Investment Management, said: “We’re delighted that Worldwide Financial Planning is making our managed portfolio service available to its clients.

“Worldwide is well-regarded in the industry and partnering with us gives the firm the ability to offer a cost-effective service to investors as it continues to grow.”