Sometimes as an investor, you need to look at things differently. In the UK there are various WRAP platforms. In other words, an administrative platform to hold client investments. Here is a link to just one.
Part of their services is access to Discretionary Fund Managers (DFM). Here are some examples. Brewin Dolphin, Brooks MacDonald, Charles Stanley, 7iM, Old Mutual, LGT Vestra, FE Invest, Thesis Asset Management, Bordier, Standard Life, Liontrust and Quilter Cheviot. This platform is called Ascentric and they have 55 on the list of DFMs you as an investor can have access to. Yes, this might be boring, but patience…
Here’s the question. If you are choosing someone to manage your money, and you use a DFM, what are you wanting to achieve? If it’s a better than average return, you need to know if there is any DFMs out of the 55 that stands out? You may think your IFA knows the answer. Maybe they really don’t. Why? If one IFA was able to spot the best DFM, then surely every IFA should be able to do the same. That would mean there would be the choice of 1 DFM, not 55. So if you can’t spot better than average, what are you paying for? You might as well put all the names in a hat, and put your money with who you pull out. That’s called luck.
Whilst every DFM will have ‘their’ story why they are the best to choose but are you interested in ‘stories’ or results?
If you can ask better questions, you can achieve better outcomes.