Santander UK has launched its model portfolio service in an attempt to enhance its private bank offering.

Merging personal relationship management and the digital capabilities of its online investment hub, customers are now advised on a suite of eleven actively-managed portfolios.

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Furthermore, personalised face-to-face advice is immediately provided to clients. This considers their individual circumstances, risk appetite, and investment time horizons.

In addition, clients are able to review their investments through regular meetings with their private banker.

Each of the eleven portfolio models on offer combine two dimensions of risk with an investment time horizon. These are:

  • 2-5 years;
  • 5-10 years, or
  • 10 years plus.

Santander UK worked with Santander Asset Management to develop the models.

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Clients can also view their balance against their other Santander holdings on their online banking. The Invesment Contact Centre is also available for support.

Charlotte Platts, head of wealth at Santander, said: “We are delighted to have expanded our Private Banking proposition with the launch of our Model Portfolio Service, which provides clients with more choice and flexibility when it comes to their investment options.

“Across the Santander Group we are placing increasing importance on this type of service and we look forward to continuing to enhance our offering over the coming years.”

The service is now open to private banking clients with a minimum of £150,000 to invest. It follows the development of the Investment Hub in 2016 and the Digital Investment Adviser in 2018.

In April 2019, Credit Agricole and Santander agreed to merge their custody and asset servicing operations.

Under the agreement, Santander’s asset servicing arm Santander Securities Services (S3) would be combined with Crédit Agricole unit CACEIS.

The merged entity would have nearly €3.34trn in assets under custody and €1.83bn in assets under administration.

It would retain the CACEIS brand.

Crédit Agricole would own a 69.5% stake in the combined group, with the remainder held by Santander.

In addition, CACEIS would purchase the entire share capital of S3 Spain.