Measure up: The myriad ways advisers benchmark client portfolios

Demonstrating where you are adding value is key in the fee-paying world. So for firms running centralised investment propositions, that build portfolios for clients, common practice is to compare these portfolios to a benchmark to give clients an idea of whether they're working out or not. But there is no industry standard for benchmarking, or regulatory guidance, and firms seem to do it in very different ways. Professional Adviser spoke to seven businesses about their approaches - then we put these to an independent expert for his opinion on the merits of each.   Client as be...