Only one in ten IFAs has discretionary powers

Skandia says this is despite 90% of advisers evaluating the need to rebalance annually and 20% doing so several times a year. It says the process of contacting clients every time an adviser feels a rebalance is necessary can be “heavily administrative and labour intensive”. Graham Bentley, head of investment marketing at Skandia, says: “Most advisers face a real dilemma when it comes to portfolio rebalancing. “The majority see it as a fundamental part of the ongoing advice process and review the need to rebalance at least annually. “However, when they decide a portfolio needs rebala...