Quilter’s WealthSelect managed portfolio service (MPS) has passed £20bn in assets under management (AUM), the firm has revealed.

Portfolios on the service reached £10bn in AUM in 2022, with this figure doubling over the past three years.

Meanwhile, responsible and sustainable portfolios have achieved a combined AUM of £1bn after three years of operation.

Quilter said WealthSelect’s growth was driven by adviser demand for outsourced investment solutions.

WealthSelect was launched in 2014 with active and blended portfolios, seeking to help financial advisers with outsourcing day-to-day portfolio management duties, such as asset allocation and fund selection.

The service was expanded in 2022 to increase the number of portfolios available from 16 to 56, with responsible and sustainable investment offerings added, alongside passive portfolios.

Initially only available on the Quilter platform, the MPS has since been added to other third-party platforms.

The portfolios have been managed by Stuart Clark since launch, while Helen Bradshaw and Bethan Dixon were introduced as portfolio managers in 2023.

“Having seen the first assets go into the portfolios, I am immensely proud of the growth WealthSelect has managed to achieve in little over a decade,” said WealthSelect portfolio manager, Stuart Clark.

“The support from colleagues, investment partners, and crucially financial advisers, has allowed WealthSelect to flourish and become the success that it is today.

“There is never a dull day in markets and the past 11 years have certainly confirmed this. The portfolios have withstood many destabilising events, including the Covid pandemic, Russia’s invasion of Ukraine, the bond market rout of 2022, and more recently the erratic trade policies coming out of the US.

“It has been really pleasing to see the portfolios deliver stability for investors during what has been a truly volatile period.”

Quilter Investors chief investment officer and managing director, Marcus Brookes, “This milestone is a fantastic achievement for WealthSelect and is a testament to the hard work and dedication of Stuart, Helen and Bethan.

“WealthSelect gives advisers a plethora of options to choose from when it comes to investing their clients’ hard-earned money.

“Over the past decade, the portfolios have demonstrated their ability to grow and protect wealth over the long-term, regardless of what markets throw at them.”

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