You are here: Home - Investing -

Investors set to bypass advice

0
Written by:
10/10/2012
Investors will be doing it for themselves in next year, as self-directed investment is forecast to grow as a result of new legislation.
Investors set to bypass advice

According to AXA Wealth, self-directed investing is forecast to grow in 2013 with over half of investors saying they plan to make some of their financial decisions without professional advice.

As a result of the Retail Distribution Review (RDR), where financial advisors are required to charge up-front fees for their advice, 54% of individuals who currently use a financial adviser said that they only rely on the expertise of their adviser for more complex investments, such as pensions but would self-invest for other transactions.

Mike Kellard, chief executive officer at AXA Wealth, said: “Self-investing is not new, but with the abolition of commission on investment products, it is perhaps logical that some people may look to avoid paying a fee for financial advice for more simple transactions such as ISAs.

According to AXA, self-investing is a growing trend, highlighting investors’ increasing desire to take a more active interest in financial decision making.

13% of those surveyed said that they would go it alone for all investments while 49% said they can make their own financial decisions.

A third said they would benefit from the ability to see their investments whenever they want, while 29% are attracted by the chance to learn more about investing.

Kellerd continued: “Services that help consumers do-it-themselves may well re-awaken investor’s appetites to invest and provide opportunities for advisers to offer value-added services as their client relationships develop.”

Despite this statistics on investors wanting to go it alone, 45% of financial advisors are predicting that more people will seek out financial advice once RDR is introduced.

The relationship that some investors have formed with their investors is also highly valued, as 68% of those investors surveyed said they will seek out their advisor to assist them.

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

YourMoney.com Awards 2018

Now in their 21st year, our awards recognise the companies offering the best products and services to consumers

Money Tips of the Week

Read previous post:
2215845-fallingincome
Annuity rates in ‘free fall’

The rates of interest paid out on pensioners' annuities have dropped 7% since June and enhanced rates have fallen 5%...

Close