Advisers who spend up to 80 hours a week selecting individual funds are risking client portfolios by not allocating enough time for rebalancing, IFAs have warned.
Deverill Black’s Iain Black, Tenon’s Keith Douglas and Price Bailey’s James King believe the IFA industry as a whole fails to rebalance client portfolios sufficiently. “If an adviser is spending time choosing funds properly, then they will find themselves working 80 hour weeks at least,” Black says. “Where can they find the time to do the other things?” Douglas feels the current market volatility has highlighted the fact many advisers are not looking at existing client portfolios enough, saying "very few IFAs rebalance as much as they possibly could". The asset allocation solution route ...
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