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Discretionary Fund Management (DFM) 2018 Annual Due Diligence

We carry out an annual due diligence review of our Discretionary Fund Management proposition. This involves meeting with the six DFMs on our panel and measuring them under three key headings

  • Operational
  • Strategy
  • Business fit

The eight fund managers are:

Cazenove Capital Management
Brewin Dolphin
Charles Stanley
Investec, Wealth & Investment
Quilter Cheviot
LGT Vestra
Brooks McDonald

This is a summary of the due diligence reviews carried out in 2018


The extent to which automated processes between the DFM are embedded and work well for the benefit of advisers and customers in addition to delivering operational efficiencies and reducing risk.

All companies were graded as either excellent or very good. This is demonstrated by their ability to interact electronically in key areas e.g. cashflow management, daily valuation feeds and their willingness to work with us further in this area. There have also been no noticeable themes arising from discussions around operational effectiveness for any of the companies via our internal Strategic Partners Retirement Operational Group meetings.


This relates to the extent to which the companies we deal with share our vision of how the markets we operate in are developing and their strategies to deal with future market changes.

All companies were rated as excellent here as we could see clear evidence of an understanding of the way in which markets are developing, particularly in the at retirement space post pensions freedom. These companies had in place, or were in the process of developing, technology solutions aimed at the changing needs of advisers and customers.

Business Fit

This refers primarily to the extent to which our two businesses are aligned in key areas such as distribution.

All companies rated either very good or good.

For more information about our Due Diligence and investment governance processes, please speak to your usual LV= sales contact, or call our Retirement Desk on 08000 850250

LV=, County Gates, Bournemouth, BH1 2NF, UK