Elston Consulting launches new GIA portfolios for financial advisers

Elston Consulting has launched new general investment account (GIA) model portfolios for financial advisers.

With falling capital gains tax (CGT) allowances and the risk of rising CGT rates, the firm suggested there is a “growing need for CGT-efficient strategies”.

Elston’s GIA portfolios are a range of five risk-rated portfolios constructed with a curated research list of asset allocation building block fund-of-funds – one for equities, one for bonds and one for alternatives.

The firm suggested that the advantage of this approach over an all-in-one single-risk-profile multi-asset fund is that it gives advisers the option of netting off gains against losses, when asset class performance is dislocated, as it was in 2022.

Elston’s new solution for advisers acknowledges that different tax wrappers require different implementation approaches.

“There are a range of techniques advisers can deploy to mitigate CGT within GIA accounts,” said head of research at Elston Consulting, Henry Cobbe. “With shrinking allowances, it’s becoming more important to deploy these techniques. Whilst MPS is a fantastic solution for ISA and SIPP, GIAs do now require a dedicated approach.”

Head of adviser relations, Scott Adams, added: “Our aim is to help advisers solve real-world problems for their clients. By adding our GIA Portfolios to the suite of solutions advisers can access and adopt, we are aiming to plug the challenge that MPS can create in a GIA context.

“There is no one-size-fits all approach, so aligning solutions not only to their target market but also to the tax environment in which they operate is key.”

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