Our guide, written with input and collaboration from PIMFA and DFM Connect, has been created to help firms understand the different ways in which relationships between adviser firms and discretionary managers can be structured.
Building on the existing threesixty guidance, this guide deals more specifically with the scenario where advisory firms recommend Model Portfolio Services (MPS) provided by discretionary managers on third party platforms - this is an area that has seen significant growth in recent years and continues to grow.
The guide reminds firms how relationships between adviser firms, their clients, and discretionary managers can best be structured in line with the FCA rules on ‘agent as client’ and ‘reliance on others’. It highlights the pros and cons of each option and makes clear that at the heart of the arrangements lie clients’ best interests.
It also contains two checklists for advisers and discretionary managers to use when structuring their relationships.
How to request this guide
To request a copy of this guide, email firstname.lastname@example.org stating your name, company name and role.