As I interact with the heads of platforms, it strikes me there are three approaches to platform due diligence by DFMs: This is based purely on looks and is where the marketers show their worth.Shallow, superficial, and vain DFMs could be coerced into a relationship just because of a shiny new platform. Consultants are good at this: the elevator pitch, selling yourself in three minutes and if I like the look of you then we're on ...Those worldly-wise parents realise that a successful relationship will be built on shared interests, values, and a commitment to work through the good times and the bad.If I have not looked into the whites of the eyes of the head of a platform (candles and dinner optional), we simply would not move forward with a platform relationship As those blonde-haired, blue-eyed platforms continue to flutter their eyelashes at us handsome DFMs, we should remember those words of our parents.
This period of courtship is sometimes seen as a precursor to engagement or marriage.
This is bit more detailed and perhaps includes some key requirements - do you want all your models rebalanced while sharing a love of classical music? because of course, we are too busy to really get to know you.
But if I have not looked into the whites of the eyes of the head of a platform (candles and dinner optional), we simply would not move forward with a platform relationship.
As discretionaries begin working more closely with platforms, Brewin Dolphin's head of managed investment services Gareth Johnson examines the mechanics of the DFM dating game.
"It is what's on the inside that counts," says every parent to their children as they try to navigate them away from the frivolity of choosing a lifelong partner based on aesthetics.