Parmenion has added DFM portfolios from wealth manager RBC Brewin Dolphin and investment manager Morningstar to its adviser platform.

The RBC Brewin Dolphin MPS and Passive Plus MPS ranges add 19 model portfolios.

The 12 portfolios from Morningstar are from its Morningstar Active, Income and Passive ranges.

The 31 portfolios will span a range of risk grades.

Parmenion has been focusing on broadening its MPS offering to advisers in 2022. Earlier in the year it added model portfolios from Brooks Macdonald, Schroders, LGT and Tatton Investment Management.

Martin Jennings, CEO at Parmenion, said: “We are delighted to bring further model portfolios from prestigious and respected DFMs to our platform today. RBC Brewin Dolphin and Morningstar have long track records managing money in all market conditions and will be an asset to our offering to advisers.

“Today’s change will support our ambition to be the platform of choice for any adviser running a centralised investment proposition.”

RBC Brewin Dolphin is one of the UK’s largest wealth management firms with £51.7bn in assets under management. The firm’s managed portfolio service has £6bn in assets under management from 1,000 advice firms.

Brewin Dolphin was acquired by Royal Bank of Canada in September.

Morningstar Investment Management Europe offers professionally managed portfolios and funds with $265bn (£217.9bn) in assets under management. The investment manager currently works with 255,000 advisers from across the world.

Earlier this year Parmenion began the acquisition of Chartered Planner-run investment firm EBI Portfolios for an undisclosed sum.

West Midlands-based EBI (evidence based investing) administers £1.9bn of funds for over 150 advisory firms and their 7,000 clients.

EBI provides outsourced investment for adviser firms, mainly through MPSs (Managed Portfolio Service) and DFMs (Discretionary Fund Manager). It also offers cashflow modelling software and ESG portfolios.

EBI was founded by Financial Planner and entrepreneur Craig Burgess FPFS who is CEO and CIO. He has been involved in financial services since 1992 as both a financial adviser and entrepreneur.