Discretionary Management  

DFMs team up to tackle misconceptions

DFMs team up to tackle misconceptions

Brewin Dolphin, Brooks Macdonald, Investec Wealth & Investment, Quilter Cheviot and Rathbones have teamed up to launch the DFM Alliance.

The DFM Alliance is a partnership created to offer financial advisers a platform for improving client outcomes through information, education and collaboration.

While the DFM market has grown substantially in recent years, the DFM Alliance believes there remains a need for greater clarity for advisers around the concept of outsourcing, its potential benefits to the both the adviser and the end client, and what constitutes best practice. 

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Through this partnership, the DFM Alliance is committed to educating advisers on the benefits of outsourcing investment management; providing a knowledge base for advisers to draw upon when undertaking DFM due diligence;  and working collaboratively with advisers to assist in improving business practices for the benefit of the end client.

The alliance, whose members have combined discretionary assets under management of more than £130bn, will also work to debunk the myths around working with a DFM and what it means for advisory businesses.

The DFM Alliance (www.dfmalliance.co.uk), will run a range of initiatives to support these aims, the first of which will be a number of free structured CPD conferences in June 2017 in the north and south of England.

Lucie Gordon, senior business development manager at Brewin Dolphin, said: “The burdens on IFAs are huge. We want to help IFAs carry these burdens through helping with their investment, regulatory and risk processes. 

“Of course, outsourcing to a DFM may not be the right solution for everyone, but the formation of the DFM Alliance is testament to our commitment to making sure IFAs have the information they need to make this decision.”

Andrew Denham-Davis, director of business development at Brooks Macdonald, said: “Gaining recognition that working with us can improve the efficiency of the adviser business and customer outcome is absolutely crucial.”