Fairstone, the UK’s largest chartered financial planning firm, has announced a strategic partnership with JP Morgan Asset Management.
This collaboration combines Fairstone’s extensive client base and advisory expertise with JP Morgan Asset Management’s global investment capabilities, it said in a statement on 22 January.
The partnership will see Fairstone utilise JP Morgan Asset Management’s global equity and global bond capabilities as core components of its new NOVA MPS (Managed Portfolio Service) range.
The NOVA MPS will provide institutional-grade investment capabilities to retail clients at institutional pricing, “delivering significant value at just 55 basis points”. Set to launch for new clients on 1 March, the range is designed to deliver proven investment solutions at a highly competitive price.
Fairstone will seed the new range with over £500m on day one and anticipates that the exceptional quality and price of the offering will drive incremental assets into the Fairstone 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.
Pictured above are: Lee Hartley, Fairstone CEO; Claude Kurzo, JP Morgan Asset Management Country Head UK; and Nick Stebbing, Fairstone COO.
Speaking at the launch event, held at JP Morgan’s offices on London’s Embankment, Lee Hartley, CEO of Fairstone, said: “Fairstone Investment Management was established to act as professional buyers of investment solutions, ensuring clients remain at the heart of our approach.
“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.
“To remain the most trusted wealth management company and to continue delivering exceptional service to our 125,000 clients, we recognise the importance of partnering with leading suppliers. In J.P. Morgan Asset Management, we are confident we have found the right partner.”
Claude Kurzo, UK country head at JP 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.”
Nick Stebbing, chief operating officer at Fairstone, said: “This partnership delivers institutional-grade investing to retail clients, bridging a significant gap in the market. By working with J.P. Morgan Asset Management, we’re able to offer solutions that bring together robust performance and competitive pricing. This collaboration underscores our commitment to ensuring clients benefit from professional-grade strategies that were previously accessible only to large institutions.”
