Whole of market beyond most IFAs post-2012: Lighthouse

Independent advisers’ role post-2012 will be as “auditors” of clients’ finances, in which they will add value by highlighting areas of concern via a regular and trusted relationship, he said. Meanwhile, investment decisions should be outsourced to discretionary fund managers (DFM) who have the time and skills to manage clients’ portfolios within their risk profiles, he added. The Lighthouse Group chairman dismissed claims outsourcing creates problems justifying adviser fees because advisers’ added value is as “general practitioners”, which is a separate discipline from fund management...