DFM

CONTRARIAN

Discretionary fund manager Saltus Fund Management has bought Altrincham-based wealth manager Mercater Capital Management for an undisclosed sum.

With Financial Planning Week under way, and the tenth and last adviser seminar for 2012 wrapped up, AIC training manager Jackie Lockie reflects on her year on the road meeting advisers.

DFM

The Association of Private Client Investment Managers (APCIMS) has requested clarification from the Financial Services Authority (FSA) on when the adviser charging rules apply to adviser referrals to discretionary investment managers (DIMs).

Suffolk Life has introduced three more discretionary fund manager (DFM) partners to SimSIPP wrapper.

The FSA should go further in its DFM transparency drive and oblige discretionaries to publish total expense ratios for their portfolios, according to David Tiller, director of strategy & business development at Standard Life Wealth.

HM Revenue & Customs (HMRC) is to publish further guidance on whether discretionary fund managers should be eligible for VAT payments.

The Financial Services Authority (FSA) is launching a series of seminars to explain its latest guidance on centralised investment propositions (CIPs) and replacement business to financial advisers.

Cofunds is to provide its adviser users with access to a range of discretionary fund managers (DFMs) via the wrap for the first time.