Is your Discretionary Fund Manager doing enough for you?

As we navigate the upheavals caused by the coronavirus pandemic, we’re all dealing with different challenges, particularly in working from home. I have taken on my own challenge of a new role as Head of Distribution at Blackfinch. It has reinforced that whether looking after our loved ones, upholding social distancing measures, or establishing new routines, our work revolves around keeping ourselves and others safe and well.

Similarly, this period before lockdown ends can also be a time to reflect on the health of your business and its future. This might seem counter-intuitive, what with work having slowed for many of us and most clients having gone to ground. However, this quiet period could provide the space needed to redefine your business. And if you offer your clients outsourced investment solutions, your DFM will be integral to this process.

Protect your clients

Your start point will be your clients, and how well your DFM is helping you to protect them. While the markets present a grim picture, it’s useful to remember, as summed up by Einstein, that “In the middle of difficulty lies opportunity”.

We have literature which has been designed to educate and inform clients of the potential journey their portfolio may take through all stages of an economic cycle. However, during this market crisis we looked to provide additional support through examples and educational pieces that help reassure clients around historical recoveries following market drawdowns and the importance of remaining invested, not trying to time the market. Whilst we acknowledge the importance of basic market commentaries to help retain clients, we believe the right investment partner should do more to help you attract new clients.

Making the case for staying invested or making new investments might not be the easiest of client conversations right now. However, the data is compelling and using it could make all the difference in reassuring clients old and new.

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