One-quarter of financial advisers have seen a pay rise greater than 10% after adopting the use of a discretionary fund manager (DFM), research for Rathbones undertaken by CoreData has suggested.
Rathbones' Value of discretionary fund management report, which is based on a study of 100 financial advisers, found one-in-eight (12%) advisers saw a pay rise of more than 20% after outsourcing their investments to a DFM. Some 6% saw a reported rise of 15% to 19% after adopting a DFM approach, while 8% saw a reported rise of 11% to 14%. The research also found firms that used DFMs had 14% more clients per adviser than those that did not, while advice businesses that used discretionary services were on average double the size of their counterparts that used an in-house approach. Mike ...
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