7 Who is a manufacturer? A manufacturer will be any firm that develops, designs or creates a product or service. This means that the definition of manufacturer includes: • An adviser firm creating: – Its advice proposition and menu of advice services – A Centralised Investment Proposition (CIP) or Centralised Retirement Proposition (CRP) which may or may not include the use of a discretionary manager – An advised model portfolio service • A fund manager designing and operating a fund • An investment manager creating its menu of discretionary management services – Model Portfolio Service (MPS), tailored solution, bespoke solution • An investment platform A manufacturer will be a manufacturer of its own proposition. In ‘manufacturing’ its own proposition, it may also be a ‘distributor’ of third-party products / services. For example a discretionary manager will be ‘distributing’ the funds / financial instruments it includes when it ‘manufactures’ its discretionary management service.
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