1st - Provider financial strength and resource
As indicated by growth in discretionary assets, group assets under management (AUM) and discretionary AUM. Confidence in firm to run a variety of portfolio types, with the resources to do so.
1st - Investment flexibility – range of options
For bespoke – confidence in investment managers to run a wide range of different investment portfolio types (e.g. risk targeted, income, ethical, cash plus)
For MPS – sufficient range of portfolio options to appeal to client base.
1st - Provider brand
Perception of brand quality. Additional confidence in certain brands (e.g. based on reputation, size, visibility).
1st - Investment flexibility – range of assets
The range of assets used in portfolios (e.g. funds, individual securities, structured products) is sufficient to meet client needs.
1st – Service
Flexibility in service to client and adviser e.g. client meetings (frequency, depth, location), reporting frequency, reporting structure, CGT management, legacy holding approach, access to investment managers.
2nd – Accessibility
Availability of DFM service through third-party platforms and other tax wrappers (e.g. self-invested personal pension
(SIPP), offshore bond) is compatible with current ‘buy list’.
Past performance is not a guide to future performance.
Released in April 2020, Defaqto’s discretionary fund manager (DFM) satisfaction study was undertaken during July to October 2019, employing both online and telephone fieldwork.