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59% of investment IFAs to stay independent

Most investment IFAs will stay independent if CP121 is adopted as drawn, according to res-earch by Credit Suisse Asset Management

The research found that 59 per cent will remain IFAs although one-third of investment advisers are undecided.

IFAs were split on the issue of provider investment, with 70 per cent at least considering selling stakes to providers while 30 per cent want to retain their independence at any price.

Adviser firms intending to multi-tie to a small number of investment product providers said investment performance was the key factor, with 39 per cent rating investment performance as most important when choosing a provider.

In second place on 20 per cent was the strength of the providers&#39 business, third was provider service and admin support with 18 per cent while a wide fund and product choice was most important for 15 per cent of respondents.

A third of advisers said they did not think their businesses would operate differently a year from now but 13 per cent of these respondents had already changed to a fee-based structure.

CSAM surveyed practice heads of 297 IFA firms.

Managing director Ian Chimes says: “We were most surprised by the number of people who thought they would not have to change the way they work. They either already have plans in place or are expecting a dilution of CP121.”


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