The UK independent financial advisor market currently serves approximately 393,000 high net worth individuals, whose combined liquid assets ...

The UK independent financial advisor market currently serves approximately 393,000 high net worth individuals, whose combined liquid assets exceed £232 billion ($425.1 billion), according to a report by Datamonitor, the research consultancy. IFAs specializing in the HNW market handle 50 per cent of their wealthy clients’ investment portfolios, according to the research. “This makes them the key intermediary channel for providers looking to access the high net worth market,” said the report. Skandia and Aviva were picked out by Datamonitor as being the key product providers for IFAs high net worth clients. Skandia was particularly praised by high net worth IFAs for its on-line offering and strong investment range. However, despite its strong protection products, Aviva was unpopular among high net worth IFAs due to perceived poor service levels, said the research.