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&#39Multi-managers are not a threat to IFAs

IFAs have given the thumbs-up to multi-management products, with only one in six believing they will be a threat to their business.

The results come as part of Money Marketing/Virgin One&#39s State of the IFA Nation poll, which surveyed 280 advisers in December.

Forty-seven per cent of IFAs polled do not believe that multi-managers would become a threat to their business,while only 16 per cent believed multi-managers would undermine their role as an IFA. Thirty-seven per cent were undecided on the matter.

The multi-manager market has seen a surge of new entrants and launches over

the past year, with big company names such as Jupiter and Credit Suisse among those moving into the arena.

At the end of last year, Scottish Widows announced its launch into the market with Frank Russell.

Jupiter director John Chatfeild-Roberts, who runs the firm&#39s multi-manager operations, says: “These figures do not surprise me. What was

a very niche market appears

to be becoming more mainstream by the day. IFAs of

all sorts seem to be using us more and more.

“Partly, I think, the regulator drives it. When you think of what IFAs have to do now, in terms of best advice and administration, etc, it is poss-ible that they feel there is just not enough time for everything. We are not trying to compete with IFAs – there is a whole heap of things we do not do. We just do the investment management.”

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