The offering is an open architecture service that provides advisors with a single point of custody and asset administration for all asset classes. Pershing said its new service draws on its experience in the US Registered Investment Advisor market and has tested the service over the past 18 months.

“We know that by 2013, the advisor market will be very different and we are focused on serving growth-oriented, professionally-managed advisors who serve investors with complex financial lives,” said Charles van der Merwe, chief executive of Pershing Limited.

The UK financial advisor market is being shaken up by the Retail Distribution Review programme of reforms, which aim to raise qualifications for IFAs and drive out the use of commissions. The RDR is seen as driving some IFAs out of business.