Discretionary fund manager (DFM) Greyfriars Asset Management has agreed with the Financial Conduct Authority to cease accepting any new business into its Portfolio Six service.
The Leicester-based firm, which took the decision to discontinue accepting any new business to the discretionary portfolio investment service in mid-September, also confirmed it was reviewing its DFM business. It added: "Until we have completed this review we will not be accepting any new business within our DFM service. The Financial Conduct Authority were always aware of our decision and we are in an ongoing dialogue with them in managing this." The Greyfriars DFM Portfolio Six Service, which was provided to "IFAs who wished to allocate to certain types of assets", had been operatio...
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