Advisers reveal concerns about using DFM services

Rathbones research

Tom Ellis
clock • 2 min read

Almost two-thirds (64%) of advisers are concerned they would struggle to justify their own fees if they outsourced their investment offering to a discretionary fund manager (DFM), according to Rathbones research.

The study, which assessed the views of 100 advisers, also found one-quarter (27%) believed DFMs might try and steal clients from them, half thought they would lose control of the investment or value chain (55%), while three-quarters (76%) said they were worried about losing control of the cost. The advisers who use a DFM, however, said the quality of client contact, trust and performance improved with the use of an external investment manager. DFM users also said they spent one-quarter (25%) of their week meeting clients - compared with the 19% of non-users - while half (55%) said client...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Trian and General Catalyst to purchase Janus Henderson for $7.4bn

Trian and General Catalyst to purchase Janus Henderson for $7.4bn

Will continue to be led by current management team

Patrick Brusnahan
clock 23 December 2025 • 2 min read
2025 reflections: How strong companies trumped politics

2025 reflections: How strong companies trumped politics

Fears of an AI market bubble persist

Ryan Hughes
clock 23 December 2025 • 3 min read
What does 2026 hold for investment?

What does 2026 hold for investment?

‘The disruptors of yesterday are now the establishment’

Jen Frost
clock 17 December 2025 • 3 min read