Assets held in discretionary model or managed portfolio services (MPS) rose a moderate 3.5% in the first nine months of 2022 compared to 37.5% in 2021, according to NextWealth's latest report, which also identified "impressive" growth from relative new entrants to the market.
The firm's MPS Proposition Comparison Report said markets were to blame for the relatively small increase, firstly due to falling asset values and secondly, a delay in the implementation of changes to portfolios. NextWealth managing director Heather Hopkins said: "Financial advisers and clients are postponing decisions to implement portfolio changes due to volatility in the markets, which has hampered new asset growth for discretionary MPS. "However, it's not bad news across the board - while the top ten discretionary fund managers (DFM) lost an average of £65m in assets under manage...
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