DFM

Legal & General (L&G) has set up a small team focused on providing tax solutions to high-net worth (HNW) clients of discretionary fund managers (DFMs) and the advisers who use them.

Former St James's Place (SJP) adviser Tim Horrocks has revealed plans to launch an advisory firm later this month called RockWealth.

The Financial Conduct Authority (FCA) has green-lighted its proposed ban on referral payments from discretionary fund managers (DFMs) to financial advisers for top-up business from existing clients.

DIM CAPABILITY

Total expense ratios (TERs) of 240bps for a combination of adviser fees, discretionary management charges, platform costs and fund manager fees are "unsustainable" and will likely be driven down, Schroders head of UK intermediary Robin Stoakley has said....

DFMs

Brooks Macdonald Asset Management has joined forces with FB Wealth Management to offer it access to its Bespoke Portfolio and the Managed Portfolio services.

CIPs

The Financial Conduct Authority (FCA) is concerned about the due diligence advisers perform on investment product providers and will continue to monitor the area, technical specialist for the regulator Rory Percival has said.

Morningstar's managed portfolio service for advisers is now available on Transact.