RSMR unveils DFM rating service

Advisers increasingly outsourcing investment selection

Fund ratings provider RSMR has announced a new rating service for discretionary fund managers (DFMs) in a move to expand its offering to IFAs.

The investment research and fund ratings group has already awarded ratings to an initial list of six DFMs - Brooks Macdonald, Cazenove, Close Brothers, Rathbones, 7IM and Standard Life Wealth - with "more in the pipeline". The services comes in response to a growing number of advisers outsource investment responsibilities, with a report last year by Nucleus suggesting their use of DFMs had more than doubled in the previous year. Ken Rayner (pictured), joint managing director at the company, said the new ratings have been developed in response to adviser demand for additional clarity i...