Advisers' trust in their outsourced investment partner often depends on a key factor: the end client.
The behaviour (imagined or otherwise) of discretionary managers has proven to be a deterrent for some advisers looking to outsource the investment function.
But to what extent do outsourced providers have contact with advisers' clients?
This is one of the questions we put to Smith & Williamson's James Burns and Mickey Morrissey, the heads of multi-manager and UK IFA sales respectively.
We also asked them about communication: just how often should an outsourced partner be in contact with an introducing adviser?
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Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till