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Affluent investors relying on advice

Nearly two-thirds of mass affluent investors have their investments managed for them or rely on professional advice, according to research from HSBC&#39s private client bank.

But around 40 per cent of the mass affluent – those with at least £30,000 to invest – feel confident enough to manage their own investments.

The requirement for professional advice is strongest among people between 55 and 64 years old and the retired.

The research found that most people do have long-term investment goals, with 70 per cent planning for their retirement and 52 per cent wanting to provide for their children. Forty per cent are investing for their grandchildren and 19 per cent are funding a child&#39s education.

But it also found that 20 per cent with £30,000 or more to invest do not hold any stockmarket-linked investments.

HSBC Bank Private Client arm head Phil Dilnutt says: “Most of us choose to invest for a specific reason, such as planning for retirement or building an inheritance.

“You do not have to be a millionaire to benefit from professional investment management. HSBC&#39s Portfolio Management Service is available to investors with £30,000 or more to invest, and offers personalised independent financial advice.”


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