From Adviser Guide:
Q: Who must make sure the multi-manager remains suitable?
It is the IFA’s responsibility to make sure that the multi-manager remains suitable for their client.
Caspar Rock, chief investment officer of Architas, said: “Our responsibility is to ensure that our funds perform in line with our objectives and remain within the risk-profiling framework that we use.”
The fund manager is responsible for ensuring the fund remains within the remit of its IMA sector and any third party risk rating.
It is the adviser’s role to ensure that the product is still suitable for any change in the client’s circumstances.
Gary Collins, head of UK retail sales at Threadneedle, said: “If a fund is risk rated by a third party such as Distribution Technology, advisers can take comfort with the fact that one of the third party’s primary responsibilities is to ensure that each asset allocation relates to a specific risk rating.”
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