Origen outsources £65m client portfolio to Brooks MacDonald
Origen has handed over the management of £65m (€82m) worth of clients' investments to specialist asset manager Brooks MacDonald, according to a report in the Financial Times.
The outsourcing will see Brooks MacDonald taking on responsibility for the IFA firm's fund management business.
Origen's managed and bespoke portfolio services are moving out from its direct administration, although the advisers will continue to help set risk profiles and monitor investment performance. The IFAs will continue to provide their advisory portfolio service.
Stephen Greenstreet, managing director of Origen, said: "We have made a strategic decision to outsource our discretionary fund management arm to Brooks MacDonald, in order to concentrate on our core strengths of providing the best possible advice-led financial strategies to our clients, at the same time allowing them to benefit from Brooks MacDonald’s specialist investment management proposition.”
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