Around two-fifths (38%) of advisers run client portfolios on an advisory basis, Defaqto has found, suggesting intermediaries may have regained confidence with investment management post-RDR.
The 2017 figure was up from a quarter (24%) of advisers who said they managed client portfolios on this basis in 2016. This was the most popular method of adviser investment portfolio business split in the firm's 2017 discretionary fund management (DFM) service review. Defaqto said one reason for this may be that advisers were regaining confidence in running client portfolios after investment proposition changes implemented as a result of the Retail Distribution Review (RDR). It said another explanation could be an increasing number of advisers finding it difficult to justify fees ...
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