Wealth and investment manager Quilter has extended access to its WealthSelect Managed Portfolio Service to three new third-party platforms for the first time.

The WealthSelect MPS was previously only available on the Quilter platform.

WealthSelect will initially be added to the Parmenion, M&G and Morningstar platforms, with more expected to follow.

WealthSelect, launched 10 years ago, has become one of the largest managed portfolios services in the UK with over £14bn in assets under management, according to Quilter.

The MPS has been managed by portfolio manager Stuart Clark since it launched. Bethan Dixon joined him in 2022 following an expansion of the range, with Helen Bradshaw also becoming a portfolio manager in 2023.

The MPS started with a range of active and blended portfolios but since 2022 advisers have also had the choice of passive portfolios as well as responsible and sustainable investment options.

The range of funds has grown from 16 to 56 over the past 10 years.  

According to NextWealth’s latest MPS Proposition Comparison Report, WealthSelect was the fastest growing MPS by net asset growth, with £2.6bn in assets added in the year up to 30 September. 

Steven Levin, Quilter chief executive, said: “MPS solutions are now a crucial part of the adviser toolkit and we provide one of the most comprehensive solutions in the market. We want advisers to have greater access and choice and thus the time feels right to add WealthSelect to other platforms.

“The strong investment performance is also testament to the hard work and determination of Stuart, Helen and Bethan and I am excited about the potential for further growth as we add WealthSelect to other platforms.”

Stuart Clark, portfolio manager, said: “WealthSelect has been a large part of my career to date, and I am especially proud to have managed the portfolios from launch to the 10 year anniversary. The success of WealthSelect would not have been possible without the support of both my colleagues and the financial advice community and the important work they do with clients on a daily basis.

“Despite the challenges the market has thrown up over the years, WealthSelect has continued to deliver good risk adjusted returns. There has been a huge amount of upheaval in the past decade with the likes of the Covid pandemic, Russia’s invasion of Ukraine, the Brexit referendum and the most aggressive rate hiking cycle in history. The next decade shows no signs of slowing down, but I am excited to see advisers have even greater access to WealthSelect as we roll it out across the platform market.”

Quilter oversees £106.7 billion in customer investments (as at 31 December 2023). It has several arms offering financial advice, investment platforms, multi-asset investment solutions and discretionary fund management.

The two main brands are Quilter and Quilter Cheviot. Quilter includes the Financial Planning business Quilter Financial Planning. Quilter Cheviot includes the discretionary fund management business and Quilter Cheviot Financial Planning.