Portfolio One initially consists of 10 investment portfolios, seven of these are single sector and the balance are diversified portfolios.
Tower Managed Funds product boss Richard Baker says what sets Portfolio One apart from many of the other offerings in the market is its internet technology.
"Everything an adviser needs throughout the entire sales process is on the site," he says. "This includes all training, product information, plan writing tools, forms, paperwork, marketing support and client information."
Baker says TMF went for a master trust rather than a wrap account due to time and simplicity reasons.
TMF were all ready to roll out a wrap account but decided to put that on hold until early next year when if could provide a service with better features than was possible now.
Portfolio One will be one of the products on the menu when the wrap is rolled out.
Another of the key drivers behind the development of Portfolio One was the need to provide a better service for Tower Financial Advisory Services (TFAS) advisers.
Currently the TFAS people are using a large proportion of funds from providers other than Tower.
Tower hopes these advisers will use more of the products offered through Portfolio One.
Managers with funds in Portfolio One include Tower, Bank of New Zealand, Armstrong Jones, BT Funds Management, Royal and SunAlliance, AXA and Colonial First State.
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