Fairstone, FE and Wellian fastest growing DFMs in 2020

Morningstar and Quilter Cheviot MPS assets decline

Fairstone, FE Investments and Wellian Investment Solutions were the fastest growing discretionary fund managers (DFMs) over the past year, growing total assets in model portfolios by 68%, 49% and 46% respectively, according to a report from NextWealth.

The research found that the three firms now have £850m, £3.1bn and £285m in model portfolio AUM respectively and suggests "Fairstone and Wellian growth is fuelled by consolidation and FE's is a result of moving assets from its template models to the discretionary offering". Meanwhile, the research found that Morningstar and Quilter Cheviot have suffered a decline in model portfolio assets of 3% and 4% respectively. NextWealth noted that "Morningstar has stronger relationships with large firms but has less presence on the ground than rival" FE Investments. RSMR launches DFM Academy ...