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Public have a higher opinion of advisers

Consumers have a higher opinion of their IFA’s performance in the last 12 months than advisers have of themselves, according to Opinium Research.

People who have seen their adviser in the last year gave an average performance rating of 6.2 out of 10 but IFAs only gave themselves an average mark of 5.9.

The research also shows that advisers have misconceptions about consumers’ willingness to re-engage with the stockmarket. Of the 73 IFAs on the Independent Voice panel, a link-up between Opinium Research and IFA Promotion, 61 per cent believe clients are more likely to invest in the stockmarket now than six months ago.

However, 69 per cent of the 2,000 consumers questioned who would consider investing in the stockmarket say they are less likely to invest now compared with six months ago. Just 16 per cent say they are more likely to invest now.

Opinium Research director Dan Foreman says: “The comparison between IFAs and the public highlights differences between what IFAs may believe and public sentiment, particularly in relation to the stockmarket. Interestingly, clients rate their advisers’ performance in recent months higher than the IFAs rate themselves. Advisers may be less affected by the image of the industry than they think.”

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