Freeman, along with his partner Jack Cramer, founded the firm last year, having previously headed up investments and product selection for Citi Wealth Management. Due Diligence Works provides ongoing due diligence and product shelf optimization for banks, broker-dealers and wirehouses and is now tapping into the independent RIA market too.
It offers an OCIO function covering asset managers and insurance products, with the founders using their contacts from working in banks and broker-dealers to build the business.
It’s certainly a good time for them. ‘With the regulatory scrutiny, there is a need for a service dedicated to due diligence, as firms do not have the resources and expertise on staff,’ Freeman said. ‘While firms are shrinking their fund lists and rationalizing product platforms, there is a heightened scrutiny to demonstrate ongoing due diligence – not only for a product category but for each product in each category,’ he added.