RSMR adds Brewin Dolphin and Quilter Cheviot to DFM list

Join original six DFMs added in March

Fund ratings provider RSMR has added Brewin Dolphin and Quilter Cheviot to its list of rated discretionary fund managers (DFMs).

The firm's DFM rating system was launched in March, initially awarding ratings to six DFMs - Brooks Macdonald, Cazenove, Close Brothers, Rathbones, 7IM and Standard Life Wealth. RSMR unveils DFM rating service It was launched in response to a growing number of advisers outsourcing investment responsibilities, with a 2016 report published by Nucleus suggesting their use of DFMs had more than doubled in the previous year. RSMR said the ratings have been developed to meet adviser demand for additional clarity in the selection and use of DFMs. Ken Rayner, director at RSMR, said: "Th...