DFM costs still 'impossible' to rate as FCA reviews due diligence

Disparate fund charging data and reporting shortages on discretionary fund management (DFM) and multi-asset products make it almost impossible for anyone who is not an analyst to compare providers and select the most suitable option for clients, the report by consultancy the lang cat said. The work was a follow-up on a report published last year, which painted a similarly gloomy picture, with only slight improvements made across the sector in the last 12 months. Its findings come amid the regulator's ongoing due diligence review of advice firms, in which it is probing research process...