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From Adviser Guide: Outsourcing fund management part 2

Q: How do I put in place an outsourcing agreement?

The outsourcing agreement will be a tripartite agreement that clearly sets out each participant’s roles and responsibilities.

By Emma Ann Hughes | Published May 17, 2012 | comments

The key factor in this agreement should be the protection of the client, according to Carl Lamb, managing director of Almary Green.

Even in the event of a breach and failure of the agreement in the future, Mr Lamb said the client’s holdings should not be penalised.

He said the agreement should ensure that all parties have the right to challenge the performance of their partners and to end the agreement if things don’t work out.

Most discretionary firms will provide advisers with an outsourcing agreement for them to complete, according to Mark Soonaye, product director of Octopus Investments.

Advisers should consider taking advice from their lawyers or legal department if they have any doubts over the agreement, he added.

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