Agent as client agreements between DFMs and Advisers


By Alan Hughes

This is a practical and easy to understand guide to the issues that can arise in these agreements. We have come across these issues many times when advising IFA and DFM clients, and they can be easily resolved with a sensible approach but a failure to do so can expose the adviser in particular to avoidable risk.

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.

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