United Kingdom independent financial advisers (IFAs) are increasingly outsourcing investment assets to discretionary fund managers (DFMs) as asset managers start to feel the fee pressure pinch, according to Cerulli Associates' 'Asset Management in the United Kingdom 2016: a Guide to Retail and Institutional Market Opportunities' report. https://www.financialstandard.com.au/feed/latest?story=86313322 en-AU Copyright 2026 Financial Standard 5