News that Westbury Asset Management is planning to become a discretionary fund manager (DFM) reignited the debate about the pros and cons of using such a service and the growing pressures on advisers, writes Lawrence Cook.
Advisers are increasingly seeing advisory portfolio management as an admin 'nightmare' and some feel that running some sort of model portfolio is the way forward. There are then two options: doing the discretionary work yourself or outsourcing it, but, even so, it doesn't have to be an either/or situation. So, what do advisers looking at becoming ‘adviser DFMs' need to take into account, and how exactly can firms like Thesis help, them through this process? First of all, an adviser DFM may still need some outsourcing support. We find the majority of advisers will want a sort ‘DFM-l...
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