IBOSS, the investment management arm of Financial Planner and wealth manager Kingswood Group, is to cut the Ongoing Charges Figure (OCF) on all 32 of its DFM MPS portfolios.

The reduction from Q3 will mean on the IBOSS Core MPS range, for example, charges will be as low as 0.34% on its low-risk portfolio.

Its high-risk core portfolio charge will be cut from 0.65% to 0.58%.

The firm says it expects costs to be reduced further in Q4 once newly-negotiated terms with underlying fund managers come fully into effect.

IBOSS says the cuts follow negotiations with fund houses.

Chris Metcalfe, chief investment officer at IBOSS, said: “In the world we are all currently living in, the cost of almost everything seems to be going up. We are therefore delighted to be able to offer advisers and their clients lower charges, and some of the very best in terms of competitive pricing across the DFM MPS marketplace.”

IBOSS is a boutique asset management company founded in 2008 by Kingswood and is exclusively aimed at financial advisers.