New grass-root DFMs to stamp out due diligence problem, says Nucleus

Adviser-led DFMs would allow for more modern and client-centric services, making it easier to determine suitability and compare costs, the firm said. DFMs came under fire earlier this year when consultancies the lang cat and CWC Research alleged disparate fund charging data and reporting shortages across the market made it almost impossible for advisers to compare providers and select the most suitable option for their clients. A particular problem was the lack of uniformity in how fund charging data was being communicated, with firms in disagreement over whether to settle on ongoing ...