Advice firm CEO: Why my DFM relationship works

'Arm's length at a reasonable cost'

Tom Ellis
clock • 4 min read

Discretionary fund managers (DFMs) are often maligned in the financial advice space. That said, it is a popular outsourcing investment solution among financial advisers, despite their apparent lack of 'street cred', so Tom Ellis spoke to Murphy Wealth CEO Adrian Murphy about his firm's use of a discretionary manager

Glasgow-based financial planning business Murphy Wealth has been using DFMs for years, with varying degrees of success, as its CEO puts it, but has only recently found a wholly satisfactory relationship.  The firm uses Tatton Investment Management, which offers portfolios at the low cost of around 0.15%, for its core client proposition. Although it now enjoys an efficient, valuable relationship, dealings with DFMs were not always so rosy.  "They didn't largely operate on platforms, although more do now, and the detail and information you got from them was just terrible," says CEO Adri...

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