18 Distributor responsibilities Discretionary Investment Manager • Takes account of the outcomes of value assessments from the fund managers for each of the funds included in the MPS. • Undertakes a value assessment on the ‘manufacture’ of the MPS. The value assessment on the MPS takes into account the value assessments from the fund managers (total cost). • Makes the outcome of the value assessment on the MPS available to distributors (adviser firms). Adviser firm • Takes account of the outcome of the value assessment from the discretionary manager on the discretionary manager’s MPS • Undertakes an assessment of value on the manufacture of its own CIP and advice proposition • Undertakes a value assessment on the ‘total cost’ of recommending the MPS including its own adviser charge Consumer understanding outcome • Communicate in a way that customers can understand • Where a distributor distributes products and services from a manufacturer, for example a discretionary manager’s MPS service - and uses marketing literature or communications from that manufacturer, it must ensure that the communications from the manufacturer are appropriate for its own target market of clients Customer support outcome • Offer appropriate customer support standards
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