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Discretionary Investment Services – Is your agreement appropriate?


Publication date:

04 July 2019

Last updated:

04 July 2019


Personal Finance Society

Our research has indicated that many advisers who outsource investment services to discretionary investment managers (DIM / DFM) have inadvertently left themselves and their clients potentially exposed.

If you have signed an intermediary agreement with a DIM, based on the agent as client rule, but have not read and understood the terms and checked your client agreements meet with the requirements, you may have inadvertently left yourself vulnerable to future claims.

Interactive Guide – Agent as Client, what you need to know

In association with subject matter experts Diminimis we have created an interactive guide that answers all of the ‘infrequently asked questions’ on the topics. The guide will help you:

  • Assess the suitability of your existing agreements
  • Understand the regulatory requirements for acting as Agent as Client
  • Understand the potential consequences for you and your clients
  • Consider alternative bases for agreement
  • There is also a case study showing one particular firm has implemented essential changes to their DIM arrangements

Open the Agent as Client, what you need to know technical guide (PDF)

PFS funded private & confidential consultations

If, after reading the guide, you are still unsure whether your existing agreements are suitable you can register for one of a limited number of PFS funded telephone consultations with subject matter expert David Gurr. A reduced rate follow-up consultation has also been negotiated should you feel this is required following the call.

To register for a confidential telephone consultation with David please click here.

All consultations will be confidential.

This document is believed to be accurate but is not intended as a basis of knowledge upon which advice can be given. Neither the author (personal or corporate), the CII group, local institute or Society, or any of the officers or employees of those organisations accept any responsibility for any loss occasioned to any person acting or refraining from action as a result of the data or opinions included in this material. Opinions expressed are those of the author or authors and not necessarily those of the CII group, local institutes, or Societies.