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IFAs expect more clients to start self-managing their assets: research

IFAs expect more clients to start self-managing their assets: research
  • Christopher Copper-Ind
  • @intlinvestment
  • 24 June 2020
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Research published this morning from ETF provider GraniteShares has revealed that, over the next five years, 60% of wealth managers and IFAs expect clients to start managing more of their investable assets such as pensions and ISAs themselves, as opposed to using a financial adviser.

Just 14% of IFAs responded that they expect them to do less of this, and 26% predict that the level of time they spend on managing their investments will stay the same as today.

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When asked why they expect more clients to start managing their own investments more, 50% of wealth managers and IFAs said it's because there is an increasing arrange of tools and features available to them to do this, such as digital wealth management platforms.  Some 38% cited the fact that there is now much greater access to market data making it easier to decide on investment decisions, and the same number (38%) said it's because investors want to reduce the amount they pay in investment charges.

It has been a difficult time for all investors but there is no question that an increasing number are looking towards self-directed solutions to keep costs down."

One in three (34%) said it's due to there  being even more funds and investment products for investors to use that don't require the need for a financial adviser, but 26% said it will be due to it becoming harder to find a good financial adviser - many are retiring or leaving the profession.

Will Rhind, Founder and CEO at GraniteShares commented: "The stock market volatility since the outbreak of the coronavirus pandemic has provided a backdrop for wealth managers and IFAs to demonstrate their worth in advising clients and adjusting portfolios to help meet particular investment goals."  

Rhind added: "It has been a difficult time for all investors but there is no question that an increasing number are looking towards self-directed solutions to keep costs down.

"This is also happening because there is a combination of better information and more investment products available to investors than ever before.  These products offer an array of different investment strategies and exposures."  

"Some retail investors - especially the more sophisticated ones - may feel comfortable using these themselves without the need for any  professional advise - but these new investment products also present an opportunity for IFAs and wealth managers to both help guide clients through the volatility and deliver better outcomes."

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