North has confirmed a further 18 options on its menu, which span stocks, property, bonds and technology.

The additions come after North launched two peer-managed portfolio advice practices, Milestone Financial and Coastline Advice. InvestSense has been appointed as investment manager for both portfolios.

“Providing advisers and their clients with access to a diverse and growing range of high quality and contemporary investments is a core aspect of our strategy for the North,” said AMP director Edwina Maloney.

"We will also continue to draw on our financial advice knowledge to work with more advice practices and investment managers to develop bespoke managed portfolios, recognizing the value they deliver to their clients."

In 2021 over 140 investment options were added to North's investment menu, including a number of ESG-focused and innovation-based options.

The news comes after a report by State Street Global Advisors (SSGA) and Investment Trends found that a record number of financial advisors are using managed accounts.

The survey found that over half (53 percent) of advisors use managed accounts; a significant increase from 16 percent a decade ago.

Sixty percent of advisors now also recommend managed accounts to their clients, up from 44 percent last year and 33 percent pre-COVID (2019).

Neil Griffiths

Neil is deputy editor of wealth titles including ifa and InvestorDaily.

Neil is also the host of the ifa show podcast.