Members of the Adviser Services Holdings (ASH) network will be able to offer clients a range of investments “designed to dovetail the advice processes and risk framework adopted within the Lyncombe network restricted advice proposition”.
The investment offering will be made available under the newly introduced Rockhold Investments brand, which was set up by ASH in 2019, a solution designed for the restricted market.
ASH bought Lyncombe Consultants in 2020 as the firm was about to go into administration, having already acquired rival IFA network Sense for over £9m ($12m, €10m).
Managed portfolios
ASH has over 400 advisers in its network and more than £5bn in assets under management, while Rockhold has gathered £170m in assets since the beginning of 2021, and expects to reach £200m by the end of the year.
Propositions director Chris Wilson appointed multi-asset portfolio manager Alpha Beta Partners to run and manage a “low-cost, outcome-oriented range of managed portfolios under its Rockhold brand”.
Fees range between 15bps for passive and 27.5bps for active portfolios. The firm recently added a sustainable range as well.
Another purchase
ASH boosted its proposition through the acquisition of investment management business iFunds Asset Management, subject to approval by the Financial Conduct Authority.
The statement from ASH said iFunds “used to offer a range of fund and portfolio solutions for retail investors”. According to the FCA register it has been authorised since February 2012.
After the acquisition, iFunds will be renamed and sit under the Rockhold brand and its investment and marketing director Stacey Ash will become investment director at ASH to support the growth of the Rockhold range.
A spokesperson for ASH told International Adviser that the integration of iFunds into the group will allow Rockhold to offer its own funds, as the firm intends to extend its adviser proposition later this year.
