DFM

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.

Platform Novia is to launch its own fund management arm in the final quarter of the year, providing advisers with a range of risk-rated portfolios to offer to clients.

DUE DILIGENCE

Brewin Dolphin is rolling out a review of its clients with portfolios valued at under £50,000.

Barclays' wealth division has closed its discretionary fund management service to advised clients with less than £250,000 of investable assets.