How to pick a DFM for the long term

The onset of the Retail Distribution Review (RDR), tricky markets and an imperative for all advisers to construct a robust, consistent and professional investment proposition, have all contributed to the re-emergence of discretionary management as a real investment outsourcing option. However, 20 years ago, when discretionary management was equally as popular among the adviser market, there were really just two options. The first was bespoke discretionary management for the very wealthy, built to order and very much focused on the service element. The second was managed portfolio serv...