It can be easy, amid the competitive scrum of wealth management, to overlook the importance of discretionary portfolio management (DPM). Investing money on a client’s behalf: it’s a simple enough concept. It is also profitable and ‘sticky’ – get it right, and a wealthy client is likely to stay loyal for a long time, safe in the knowledge that their wealth and assets are busy accruing interest.
But DPM isn’t easy. Few financial institutions are truly good at it.
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