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Cambridge IFA to launch DFM

Cambridge-based Gibbs Denley Financial Services is to launch a discretionary managed portfolio to external advisers.

The DFM, which will launch next year, will be managed by GD Investment Management, led by Thomas Sparke. It will charge advisers 0.2 per cent.

Gibbs Denley has been running its in-house funds for its advisers through GDIM for the past eight years and has £420m under management. The firm, which has seven advisers, was granted discretionary permission a year ago.

Should IFAs get discretionary permissions?

Gibbs Denley director David Ellis says the DFM will be a simple solution targeted to “small IFAs”.

He says: “There are a lot of DFMs out there and we want to be different because we’re born out of being IFAs so we know what they want.

“We are launching the DFM because our proposition has matured, which means we are making sure we’ve got a proper, stable model portfolio; not just risk-graded but also with an active and passive offering and a
specialist portfolio.

“That is how we operate professional, centralised investment propositions for our clients, so we don’t have just one model.”

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