Client portfolio outsourcing to DFMs up 6% - study

The increase might surprise industry commentators who expected the Retail Distribution Review (RDR) would lead to greatly increased use of external DFMs.  The annual study from Investec Wealth & Investment which aims to track the changes in intermediary attitudes towards DFMs, stated that around half of IFAs (47%) now use DFMs and 82% use platforms. A quarter (25%) of those IFAs surveyed said they outsource more than half of their clients' portfolios to a DFM for bespoke investment management, an increase from 22% last year. The average number of DFMs used by IFAs has also increased f...