The DFM market continues to grow within the financial services industry, subsequently putting more pressure on the regulatory and professional requirement to maintain appropriate and accurate due diligence records. We’re always looking for ways to support advisers and planners in this vital process, therefore, we are happy to announce another additional resource, in the form of a DFM financial strength assessment report by independent consultancy AKG.
The AKG ratings and reports focus on operational financial strength and are designed solely for use by financial advisers, financial planners, wealth managers and paraplanners.
For over 30 years AKG has particularly focused on the financial strength requirements of financial advisers, and for the past six years they have also been working on DFM providers’ financial strength assessment ratings and reports, with no DFM yet to receive a rating higher than a ‘B+’. As of December 2022, IBOSS have become the 22nd DFM provider to be assessed.
Speaking to Professional Paraplanner in August 2021, Guy Vanner, managing director, AKG, said: “Intermediary firms have a growing awareness of the requirement for them to carry out robust and recordable research and due diligence exercises when validating the selection and/or retention of their key business partners, whether these be DFMs, platforms or pension/protection providers for example. AKG’s assessment work and rating/report output ensures that intermediary firms are able to factor in and give due consideration to the financial strength of DFMs within said research and due diligence processes.”
The report’s main purpose is to assist advisers when selecting between comparable companies competing to deliver relevant products or services. Within our own report, AKG has given IBOSS a rating of ‘B-‘ for our overall financial strength assessment.
In the full report we are also given star ratings for service, image & strategy, and business performance. AKG’s process for assessment and rating is to use a balanced scorecard of measures and comparative information, relevant to the companies contained within the peer group. Key ingredient criteria and information items used within this balanced scorecard approach can be found on AKG’s website here.
If you would like a copy of the full 17-page assessment report by AKG on IBOSS, please contact a member of our business development team below;
Kevin Morrison: 07891 814345 / kevin@ibossltd.co.uk
Tracey Atkin: 07719 327524 / tracey@ibossltd.co.uk
Tanya Strand: 07902 307277 / tanya@ibossltd.co.uk
Dawid Lesniowski: 07907 574921 / dawid@ibossltd.co.uk
This communication is designed for informational purposes only and is not intended as investment advice. These investments are not suitable for everyone, and you should obtain expert advice from a professional financial adviser. Please note that the content is based on the author’s opinion at the time of writing/publish date. Our views and opinions regarding certain investment themes and topics can alter over time as the macroeconomic background changes and other industry news is made publicly available, this is not intended as investment advice.
IBOSS Asset Management is authorised and regulated by the Financial Conduct Authority. Financial Services Register Number 697866.
Registered Office: 2 Sceptre House, Hornbeam Square North, Harrogate, HG2 8PB. Registered in England No: 6427223.
IAM 346.12.22
