Fraser Donaldson, insight analyst for funds at Defaqto, says discretionary fund managers (DFMs) are actively targeting the IFA market and providing another choice for advisers.
Watch Fraser talk about the rise of the "sleeping giants", the challenges lying ahead for DFMs and their "uncomfortable relationship" with platforms.
Fraser was speaking on the back of recent Defaqto research which found the number of platform users preferring to outsource to multi-managers has fallen from 32% last year to just 23% in 2011, amid a "concerted effort" by discretionary managers to steal assets.
Investors have largely avoided financials over the past 10 years, with the share prices of US and European banks having largely stood still relative to broader markets since 2007. But while banks won't return to their record valuations any time soon (and...
Steps already taken
Increasingly diverse sector
First of planned acquisitions
Feedback from first year