Aviva is to allow advisers to outsource investment to discretionary fund managers as part of its managed portfolio service.
The Financial Services Authority has repeatedly warned advisers of the issues around centralised investment propositions, which the service is aimed to address. On the wrap, DFMs will be able to create and change model portfolios from the 2,200 funds available. Intermediary director Andy Beswick said: "We've listened to our advisers and know that one of the main concerns they've had is how to evolve their range of services and continue to offer valuable and profitable advice in a post-RDR world. "[The service] delivers a cost-effective way for advisers to outsource their investment...
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