Big-name discretionary investment managers (DIMs) such as Quilter/Quilter Cheviot, Brooks Macdonald, Brewin Dolphin, LGT Vestra and Tatton are struggling to gain market share among financial advisers, as they opt for smaller investment firms instead, research shows.
According to the latest Financial Advice Business Benchmarks report from the Personal Finance Society and NextWealth, 67% of 278 financial advisers surveyed that use DIMs for outsourced models or bespoke portfolio management named a less well-known investment firm. "There is a very long tail of small DIMs managing MPS for advised clients with the big players, such as Quilter/Quilter Cheviot, Brooks Macdonald, Brewin Dolphin, LGT Vestra and Tatton capturing the largest share, but still struggling to dominate," said Heather Hopkins, MD of NextWealth. More than 80% of financial advisers ...
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