Nearly half of Money Marketing readers think that advisers should have discretionary permissions, our latest poll shows.
In a survey of 120 readers on the Money Marketing website, 43 per cent said advisers should have discretionary permissions. 40 per cent said they should not, and 17 per cent remained undecided.
Many discretionary managers have reported increased inflows and portfolio sizes in recent years.
Platforum research last month showed that around 16 per cent of advice firms currently have discretionary permissions. These tend to be larger firms, with more than £250m in assets under advice or over 20 advisers.
However, the findings did not predict an immediate boom in the number of IFAs getting the permissions.
6 per cent said that planned to acquire discretionary status in the next two years, and 11 per cent said they planned to do so within five years.
Advisers reported that the administrative burden of communicating investment changes to clients was a driver behind holding discretionary permissions.
Money Marketing will be following up our and Platforum’s research with further analysis on trends in the discretionary market shortly.