Almost two out of three IFAs want to be able to offer all funds to clients at the expense of multi-manager propositions.
Independent research demonstrates the challenge posed to multi-manager as wrap accounts develop.
Statistics from CWC Research show that 64 per cent of advisers are looking for all funds to be covered by a wrap account as part of an holistic advice package. This is at the expense of multi-manager funds although advisers are keen to see a best-of-breed proposition as part of a complete client portfolio.
Identical research last year showed that only a third of advisers were keen to offer the whole market while an almost identical number wanted between 100 and 500 funds.
FundsDirect chief executive officer Sean Ewing says: “The market is looking for a full range of funds and that is not necessarily multi-manager. After they have this they will look at a multi-manager proposition. Clients want to know that they are being offered whole of market and that has increasingly become the case.”