Surveys

IFAs Need To spend More Time On Cash Deposits, Says Investec

Max Skjönsberg London 3 July 2012

IFAs Need To spend More Time On Cash Deposits, Says Investec

One in three IFAs believe that access to a broader range of cash deposit products and rates on wrap platforms would serve their clients better, new research shows.

According to findings by Investec Specialist Bank, more than one in five IFAs believe having a wider range of cash products on wrap platforms increases the total assets under their advice, while nearly as many suggested it would improve the accuracy of asset allocation.

However, nearly eight in ten spend 10 per cent or less of their time managing the cash element of a typical portfolio and one in ten spends no time at all on this.

“It is reassuring to see that IFAs understand the importance of being able to offer clients a broad range of cash deposit products," said Lionel Ross of Investec. "However, it is also concerning to see that some spend no time at all on managing the cash element of a client’s portfolio.

“The role of cash deposit products/rates on wrap platforms will change substantially over the next few years," Ross said. "It is up to those IFAs to spend more time on this element of a portfolio to potentially gain a significant advantage for their client.”

Investec interviewed around 100 IFAs for the research.

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