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PIMFA chief executive Liz Field said: "The agent as client and reliance on others rules have always been tricky to interpret and apply, but it is important for advisers and discretionary firms to get this right, both for their own sake and, more crucially, for their clients."
PIMFA has published a guide for advisers and discretionary investment managers (DIMs) aimed at helping them understand the different ways in which relationships between their firms can be better structured.
The guide, drafted by threesixty services, with input and collaboration from PIMFA and DFM Connect, is informed by a previous work carried out by the Personal Finance Society, tackling a wide range of...
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