Investment Solutions by Alexforbes has reached its two-year track record, giving advisers a clearer view of where the discretionary fund manager (DFM) is adding value and where the model still faces friction. In this episode, Alexforbes DFM specialist and portfolio manager Nadir Thokan discusses performance, manager selection, platform constraints, private markets, fee transparency and why the next phase of DFM growth will depend on genuine differentiation.