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Berry achieves double Defaqto 5-star rating

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Private client wealth manager Berry Asset Management has achieved the top level of rating from independent financial research company Defaqto for both its bespoke and model portfolio services. 

The firm achieved the maximum ‘5 Star’ rating for multiple discretionary propositions across Defaqto’s two discretionary fund management (DFM) rating classes.

In rating discretionary fund managers Defaqto considers a firm’s performance against a host of criteria, including the value of discretionary assets under management, the range of traditional and alternative investments permitted, minimum investment and withdrawal levels, interest paid on cash, accessibility through tax wrappers, back office integration capability, and its approach to third party rebates, transaction and administration fees.

Jamie MacLeod (pictured), chief executive officer at Berry Asset Management, says: “A significant number of intermediary businesses have outsourced to investment management firms in the run-up to the implementation of the Retail Distribution Review.  A Defaqto ‘5 Star’ rating underlines the credibility of a firm’s discretionary fund management proposition.”

Fraser Donaldson, insight analyst for funds at Defaqto, says: “Defaqto Star Ratings provide an independent assessment of products and service propositions based on the level of features and benefits they offer, combined with relevant provider information – giving each a rating of one to five to indicate where they are positioned in the market.  We have been researching the DFM market since 2010 and rating DFM propositions, as distributed through financial intermediaries since 2012.  DFM Star Ratings are segmented into ratings for model portfolio services and for bespoke solutions. A 5 Star rating indicates that a proposition has one of the best quality service offerings in the market, based on the firm’s commitment to the adviser market, the way the proposition is structured and the flexibility it offers.”

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