Mark Rockliffe, head of intermediary sales at Heartwood, reveals why bespoke portfolios are not always the best solution for clients.
One of the most common shouts from the discretionary fund management (DFM) industry in the build-up to Retail Distribution Review (RDR) has been an emphasis on the benefits of bespoke portfolio management. There is a general philosophy that sophisticated, affluent clients need - or demand - sophisticated and unique portfolios designed intricately around their personal traits. There is a space for truly bespoke portfolios in the wealth management industry. However, the work required to properly manage a range of highly tailored mandates can be profound. While financial advisers have...
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