Quilter Cheviot has lowered the charges for clients invested in its managed portfolio service (MPS) via its own nominee arrangements.

Where advisers decide that a client is better suited to investing directly with Quilter Cheviot, that client will now pay 0.50% for Quilter Cheviot’s MPS, down from 0.75%.

Meanwhile, clients coming directly to Quilter Cheviot will pay 0.70%, which is down from 0.90%.

To increase the access available for financial advisers, Quilter Cheviot’s MPS has also now been added to both Aegon’s and Nucleus’ platforms, to take the total number of adviser platforms the Quilter Cheviot MPS is available on to 17.

Head of distribution at Quilter Cheviot, David Butler, said: “We wanted to equalise the way in which people access our MPS whether that be via an adviser platform or directly through our own custody.

“It is important for suitability that clients have that choice and are invested in the way that is right for them. Having the total cost of ownership for custody MPS at a similar level as on platform MPS is a good way to provide that choice to advisers and clients and make it much easier to compare services.

“We are also delighted to be added to more quality adviser platforms. We work closely with advisers to understand where they want to access our MPS, and we have optimised the service in a way so that it can work with platforms in an efficient and seamless manner.”

---