Hargreaves Lansdown names bespoke DFM partners

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Hargreaves Lansdown has selected Smith & Williamson and Brooks Macdonald as its preferred partners for bespoke discretionary asset management services.

The firm services roughly 10,000 discretionary clients through its portfolio management arm, but wishes to offer a more tailored approach to higher net worth clients.

It has carried out due diligence on a number of wealth managers and has formally endorsed the two firms, to which it recommends advisers refer bespoke discretionary asset management clients.

Head of financial planning Danny Cox (pictured) said: “When looking at any provider, particularly third-party providers, you want to make sure you recommend the best products and services to meet a client’s needs.

“We went through a review process and these two came out top.”

However, he stressed Hargreaves’ IFAs are free to use any discretionary service which suits their client’s needs.

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