Ashcourt Rowan, the UK wealth management group, is outsourcing its portfolio, settlement and custody services to TD Wealth Institutional.

TD Wealth’s new asset management platform is already live for new Ashcourt Rowan clients, whilst existing clients will be moving onto the system later this month, the firm said in a statement.

According to Ashcourt Rowan, the platform provides a complete front-to-back solution with online account access, client reporting and portfolio management.

"By outsourcing we can focus on looking after our clients, providing high-quality advice and making the most appropriate investment decisions for them. This is an excellent platform from which to grow our business," said Jonathan Polin, group chief executive of Ashcourt Rowan.

Ashcourt Rowan saw revenues increase for the second half of the year from £1.1 million (around £1.7 million) to £17.1 million in the year to 31 March. However, full-year revenue was down year-on-year as a result of the firm’s restructure, which led to a number of managers exiting the firm.