For the adviser this means challenging the investment managers as part of the initial due diligence and on an ongoing basis, and getting under the bonnet of the investment process to understand the real risks and volatility.
Working as a team to deliver the best investment solution allows both parties play to their strengths while keeping an eye on the bigger picture – the client. The DFM supplies the expertise in managing the investments, while the adviser controls the process and the client relationship, and both monitor the portfolio to ensure the goals are being met.
By being clear on your areas of expertise and bringing in outside experts with different but complementary skills to work together as a team, the combined result can be a more powerful business and one that is more likely to grow.
Gareth Johnson is head of managed investment services at Brewin Dolphin
