The majority of advisers are bullish on the near-term prospects for the markets, with 75% expecting the FTSE to be at a higher level in one year's time, a new survey suggests.
The survey also found IFA trust in banks has fallen significantly, with 79% saying their faith has decreased in retail banks and 65% reporting falling security in private banks.
Confidence in building societies, supermarket banks and mortgage companies has also dipped, but convictions in fund management companies and life insurance groups faired best.
"Overall, IFAs are coping admirably with very challenging market conditions on behalf of their clients and it is the responsibility of product providers to offer as much support as possible," AXA Winterthur Wealth Management CEO Mike Kellard says.IFAonline
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