Quilter Cheviot has seen a rise in popularity over the last year, with the firm named the most used and most preferred discretionary fund manager (DFM) by advisers according to the latest Defaqto DFM Service Review, although the report also suggested the dominance of the largest players in the market was starting to level out.
The firm conducted its third annual DFM review last year and surveyed 372 advisers for the report. It found the most popular DFM was Quilter Cheviot, up from second place in 2016, followed by Brewin Dolphin in second and last year's top spot Investec Wealth & Investment in third. It was the same ranking list for the most preferred DFM for bespoke services. On average, advisers were using 2.5 DFMs each, which is similar to the previous year. There was also a boost for firms including Rowan Dartington, Walker Crips, Hawksmoor and Cazenove Capital, which were being used by signific...
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