With £9bn under management, Brooks Macdonald is the latest investment management firm to sign up to the site as a provider partner, offering Panacea users with videos and educational guides to support advisers interested in discretionary fund management.
Derek Bradley, CEO of Panacea Adviser, said there was a “real need” for education in areas of best practice for outsourcing to DFMs given the spotlight placed on due diligence by the FCA.
He added: “Discretionary fund management has grown significantly post RDR, as an increasing number of advisers look to outsource elements of their business. Coupled with the recent spotlight placed on DFM due diligence by the Financial Conduct Authority (FCA), this means there is still a real need for education when it comes to best practices for this particular area of outsourcing.
“Brooks Macdonald’s extensive market experience and scale as a listed company is sure to add invaluable depth and variety to our community and we are thoroughly looking forward to working with them.”
David Hyner, regional business development director of Brooks Macdonald, said: “Brooks Macdonald is delighted to be the first discretionary manager partner of Panacea. Our aim is to be supportive of the Adviser community by providing excellent investment management solutions for your clients. In addition to this and as DFM becomes more of a mainstream solution for Advisers, we have produced extensive material to support the due diligence process and we look forward to sharing these with you over the coming months.”
