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DD|hub – the new approach to discretionary manager due diligence

DD|hub – the new approach to discretionary manager due diligence

“Due diligence is a real pain,” they told us (and we heard it repeatedly), “it takes so long and ties up so much effort.”

The “they” who told us this were both discretionary investment managers and financial advisers, so it was clear there was a problem.

When advisers are looking at selecting a discretionary investment firm to work with, most firms research the market carefully, narrrow down their choices to a handful of firms, then issue a detailed due diligence questionnaire (DDQ) – typically in Word or Excel format, sent by email.

Investment managers often respond with their standard due diligence pack, but careful advisers won’t accept that – see more on why here.

So investment managers end up spending hours responding to each DDQ, painstakingly copying and pasting answers from similar (but not quite identical) DDQs done previously. Some days or weeks later, the completed doc gets emailed back to the adviser, who then has to compare the responses from the different investment managers they’ve approached.

This hugely inefficient highly manual system was ripe for bringing into the 21st Century so, the more we talked to both discretionary managers and to advisers, the more we realised that a centralised, streamlined service was needed:

  • to help investment managers hold, update and deliver timely DDQ responses
  • to help advisers focus on what was important to them and their clients, and to compare different investment firms on a level footing

So, we’re delighted to launch DD|hub – the intelligent and efficient way of handling DDQs.

Excellent feedback from our pre-launch pilot has led to some great new features being added, so we’re now ready for the full public launch.

And we look forward to working closely with advisers, discretionary managers and other industry figures to build on these great foundations – removing hassle, increasing understanding and making better decisions for clients.

Chris Jones

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