We have updated section 3 in our Terms and Conditions of Business that explains how client money is held and protected under the rules of the Financial Conduct Authority’s Client Assets Sourcebook (CASS). There is no change to the way your money is managed. The update is to provide clearer and more transparent information. View our Current Terms and Conditions of Business

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We have updated section 3 in our Terms and Conditions of Business that explains how client money is held and protected under the rules of the Financial Conduct Authority’s Client Assets Sourcebook (CASS). There is no change to the way your money is managed. The update is to provide clearer and more transparent information. View our Current Terms and Conditions of Business

Appointing a DFM or Investment Manager

You may choose to appoint a Discretionary Fund Manager (DFM) or investment manager to run some or all of your SIPP investments.

What Does a DFM Do?

A DFM:

  • Makes day‑to‑day investment decisions on your behalf
  • Operates within an agreed investment mandate
  • Trades assets without requiring your instruction each time

Appointing a Manager with Alltrust

Before a manager can operate on your SIPP:

  • They must be FCA‑authorised
  • Alltrust must complete its own due diligence
  • Legal agreements must be in place

Once appointed, the manager can trade investments that fall within our permitted investment universe.

Things to Consider

  • DFMs charge separate fees for their services
  • Not all DFMs accept responsibility for non‑standard assets
  • You remain responsible for monitoring overall suitability

If you are unsure whether appointing a DFM is appropriate, you should speak to a regulated financial adviser.