New research has revealed which discretionary fund managers advisers think have the best business development managers.
A survey of over 200 advisers by recruitment consultancy BWD shows Brewin Dolphin held on to the top spot in the rankings.
Brooks Macdonald comes in second, improving its position by one spot, with Quilter coming in third place, having come joint first with Brewin Dolphin in last year’s research.
Investec Wealth & Investment, Octopus and Rathbones came in joint fourth place – Investec maintained its position while Rathbones improved by one.
Charles Stanley, 7IM, Standard Life and Vestra rounded off the top 10, with a notable improvement of two positions for Charles Stanley.
The polling asked advisers which companies and individuals they thought were best across both telephone and face-to-face business development operations, with the answers tallied up as an indication of the quality of the BDM service.
However, BWD notes that “there is no perfect correlation between scale and perceived quality”.
Lesser-known investment managers and DFMs, such as Holyrood Asset Management, also featured on the list of nominated individuals for best DFM.
BWD notes that “BDMs are often regionally focused but it is difficult to establish this”.
As an individual BDM, Rathbones’ Brian McLaughlin received the most nominations for the number one spot.