Quilter, part of Morgan Stanley Smith Barney, has launched a new platform service that offers five model portfolios to UK independent financial advisors, based on the wealth manager's managed portfolio service.

As a result of the retail distribution review, IFAs are increasingly looking to outsource discretionary investment management, Quilter said in a statement.

The five investment strategies on offer are described as providing a range of portfolios to meet adventurous, growth, balanced, income and conservative risk profiles. They will be available on the Ascentric/IFDL, Nucleus, Novia and Præmium platforms.

In other recent developments at the firm, Quilter made two hires for its London team last month, as well as bolstering its 19-strong IFA sales team with the appointment of three regional sales managers based in Birmingham, Liverpool and London.