The first is that an adviser introduces a client to the DFM, but the relationship is kept between the investor and the discretionary firm directly.
A second scenario is an adviser holds the relevant permissions for managing investments and delegates the investment management to a DFM.
Finally an adviser could arrange for the investment management to be carried out by the discretionary manager but on the basis the client does not have a direct contractual relationship with the DFM. In this instance the adviser is treated as the client instead.
Each of the above scenarios entails responsibilities for both advisers and DFMs and The Consulting Consortium has produced a white paper summarising three must-have considerations for each. Click here to find out what they are…
