Big-name discretionary managers struggling to gain adviser market share - research

According to the latest Financial Advice Business Benchmarks report from the Personal Finance Society and NextWealth, 67% of 278 financial advisers surveyed that use DIMs for outsourced models or bespoke portfolio management named a less well-known investment firm. "There is a very long tail of small DIMs managing MPS for advised clients with the big players, such as Quilter/Quilter Cheviot, Brooks Macdonald, Brewin Dolphin, LGT Vestra and Tatton capturing the largest share, but still struggling to dominate," said Heather Hopkins, MD of NextWealth. More than 80% of financial advisers ...