Almost a quarter of advisers believe financial stability is the most important factor in the fund selection process, research by J.P Morgan reveals.
A survey of 567 advisers found 22% regard stability as key, second only to a fund manager's reputation, which 54% said is the most important criteria.
Just 16% said cost is the most important factor - other than performance - in the fund selection process, while quality of service and a product provider's brand were bottom of the list with 13% and 2% respectively.
"Reputation and financial stability seem to have become the cornerstones of fund selection criteria due to the crisis and the ensuing market turbulence, which is not only understandable but fully commendable," head of UK retail sales Jasper Berens says.
"Although performance will always be important, the fact advisers are focused on longer term criteria is a positive move for the industry, as investors become increasingly attuned to the benefits of long-term equity investments. I'm not certain financial stability would have been as much of a concern in the fund selection process a few years ago.
"Doubts have certainly been raised over the last few years about the stability of many large financial institutions and advisers are absolutely right to take this into account as an important part of the fund selection process."
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