DFM agrees with regulator to stop taking new 'Portfolio Six' money

Greyfriars AM also reviewing DFM business

Victoria McKeever
clock • 1 min read

Discretionary fund manager (DFM) Greyfriars Asset Management has agreed with the Financial Conduct Authority to cease accepting any new business into its Portfolio Six service.

The Leicester-based firm, which took the decision to discontinue accepting any new business to the discretionary portfolio investment service in mid-September, also confirmed it was reviewing its DFM business. It added: "Until we have completed this review we will not be accepting any new business within our DFM service. The Financial Conduct Authority were always aware of our decision and we are in an ongoing dialogue with them in managing this." The Greyfriars DFM Portfolio Six Service, which was provided to "IFAs who wished to allocate to certain types of assets", had been operatio...

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 Companies

Tavistock counterclaim overturned in Titan court battle

Tavistock counterclaim overturned in Titan court battle

Latest judgment handed down on 24 April

Sophia Panayi
clock 27 April 2026 • 3 min read
Shackleton to acquire Hurst Point creating £17.5bn advice giant

Shackleton to acquire Hurst Point creating £17.5bn advice giant

Will be one of the UK’s largest financial planning firms

Isabel Baxter
clock 24 April 2026 • 2 min read
Sapia Partners avoids FCA penalty with £19.6m WealthTek payment

Sapia Partners avoids FCA penalty with £19.6m WealthTek payment

Exposed clients to ‘unacceptable risk’

Michael Nelson
clock 23 April 2026 • 1 min read