More than 8 out of 10 IFAs are now likely to recommend multi-manager products to clients, according ...
More than 8 out of 10 IFAs are now likely to recommend multi-manager products to clients, according to the first annual Incisive Media/Russell Multi-Manager Intermediary Survey.
The exploding popularity of this product class is put down to growing demand from clients coupled with an increasing number of combinations of managers able to meet specific investment needs.
Some 80% of the more than 380 IFA firms responding to the survey say they recommend multi-manager products because of their ability to provide access to a range of the best managers through a single package.
And the advantages are not only seen as being good for higher net work clients.
Nearly half of the survey's respondents say their "key" multi-manager client base invests between £7,000 to £50,000.
About a third of IFAs say their multi-manager clients invest more than 50,000, while 13% say they use multi-manager for clients of all sizes.
Isas are the most popular route to multi-manager, closely followed by investment bonds or direct sales.
It is also a method increasingly favoured for pension investments.
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