Standard Life’s Elevate platform is to add a new range of DFM partners for the first time through its new Separately Managed Accounts (SMA) service.

The company says the additions will provide access to a bigger range of Model Portfolios through the Elevate platform, one of two platforms run by Standard Life.

The move follows the launch of Separately Managed Accounts on the platform, bought from AXA, last year.

Standard Life Elevate says that advisers will stay in control of the client relationship while benefiting from more investment specialists.

The first DFM managers to be added are:

• Aberdeen Standard Capital
• LGT Vestra
• Brewin Dolphin                                               
• Tatton Investment Management
• FE Investments

More will be added by the end of the year. A number of platforms have been adding DFMs recently including AJ Bell.

Alastair Ward, head of platform proposition at Standard Life, said: “I’m delighted we can enhance the investment experience enjoyed by advisers and their clients. The key to this new service is offering a combination of efficiency, choice and control, as well as greater flexibility for advisers to work with their DFM partners.

“Elevate advisers told us they wanted more investment choice on the platform. With the successful launch of SMA’s last year the natural next step was to extend the DFMs available, so we’re delighted with the firms already on board, and we have a few more to follow.

“Regulation is always a consideration and the introduction of the DFM service will help advisers meet PROD requirements as the technology can help advisers run their CIP in a more efficient way, ensuring a more tailored client approach.”