Advisers could get clarity about value for money (VFM) from their investment providers by using a simple checklist, Hymans Robertson Investment Services (HRIS) suggested.
According to the discretionary fund manager (DFM), a structured checklist is one of the most "efficient and cost-effective tools" that advisers can use to get information about VFM from their investment providers. With no universal definition of VFM, advisers need a thorough list they can use to compare and contrast services offered by various partners, HRIS explained. "Checking a set of clear facts would make it easier for them to evidence the more ambiguous elements of VFM in their compliance reports. It will also help advisers to analyse and demonstrate how they're meeting the need...
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