The achievement of the maximum ‘5 Star’ Rating for multiple discretionary propositions across Defaqto’s two Discretionary Fund Management rating classes is a rare feat indeed.
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In rating Discretionary Fund Managers Defaqto considers a firm’s performance against a host of criteria, including the value of discretionary assets under management, the range of traditional and alternative investments permitted, minimum investment and withdrawal levels, interest paid on cash, accessibility through tax wrappers, back office integration capability, and its approach to
third party rebates, transaction and administration fees.
Commenting on its achievement, Jamie MacLeod, Chief Executive Officer at Berry Asset Management said: "A significant number of intermediary businesses have outsourced to investment management firms in the run -up to the implementation of the Retail Distribution Review. A Defaqto ‘5 Star’ Rating underlines the credibility of a firm’s Discretionary Fund Management proposition.
To achieve the highest level of rating with Defaqto, service propositions need to demonstrate a high degree of dedication to the intermediated market, flexibility, transparency and high levels of personal and online service, so our team can feel proud. We have been recognised for the quality of our service and levels of client satisfaction, with a raft of industry awards over the years, and these Star Ratings underline once more the focus on quality services for our clients within our firm."
Commending Berry’s achievement, Fraser Donaldson, Insight Analyst for Funds at Defaqto said: "Defaqto Star Ratings provide an independent assessment of products and service propositions based on the level of features and benefits they offer, combined with relevant provider information – giving each a rating of 1 to 5 to indicate where they are positioned in the market. We have been
researching the Discretionary Fund Manager (DFM) market since 2010 and rating DFM propositions, as distributed through financial intermediaries since 2012.
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By GlobalDataDFM Star Ratings are segmented into ratings for Model Portfolio Services and for Bespoke solutions. A 5 Star Rating indicates that a proposition has one of the best quality service offerings in the market, based on the firm’s commitment to the adviser market, the way the proposition is structured and the flexibility it offers."
