Financial planning firm Fairstone has partnered with global wealth manager J.P. Morgan Asset Management on a new Managed Portfolio Service (MPS) range.
The partnership will see Fairstone utilise J.P. Morgan Asset Management’s global equity and global bond capabilities as core components of its new NOVA MPS range.
The NOVA MPS will provide institutional-grade investment capabilities to retail clients at institutional pricing, at 55 basis points.
Set to launch for new clients on 1 March, the range is designed to deliver investment solutions at a competitive price.
Fairstone will seed the new range with over £500m on day one and anticipates that it will drive incremental assets into its MPS ranges of £2bn over the next 12 months.
The strategic partnership extends beyond the NOVA MPS range, as Fairstone and J.P. Morgan Asset Management collaborate to develop further product innovations.
Fairstone chief executive officer, Lee Hartley, said: “The NOVA range, managed by Fairstone’s in-house investment management team, will feature segregated mandates run by J.P. Morgan Asset Management as cornerstone solutions.
“J.P. Morgan Asset Management was selected for their outstanding track record, with 88% of their global mutual fund assets under management outperforming their peers, and for the expertise of their team of over 1,300 global investment professionals.”
Claude Kurzo, UK country head at J.P. Morgan Asset Management, added: “We’re excited to partner with Fairstone on launching an innovative new MPS solution that is expected to provide strong client outcomes at a very attractive price point.
“We also look forward to supporting Fairstone in helping their clients achieve their financial objectives, which includes leveraging our Guide to the Markets and training programs to support Fairstone’s advisers.”
