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Brexit and COVID-19 drive IFA community to update CIP’s

Almost all (97%) financial advisers have either updated their Centralised Investment Propositions in the last 12 months, or plan to, according to new dedicated adviser research by Momentum Global Investment Management.

For those advisers that either updated their CIP or expect to shortly, the impact of COVID (66%) and Brexit (45%), were viewed as the core drivers of this development.

Furthermore, market volatility (37%) and a perceived shift in investment landscape (34%) were the other factors that drove advisers to update their approach in response to these seismic events.

Regarding the multi-asset options available to advisers, the selection of third-party multi asset funds [40%] is trending highest; the other prime investment proposition cited was a model portfolio service (22%), with a further group of advisers (37%) opting for a combination of the two.

Ferdi Van Heerden, Chief Executive Officer, Momentum Global Investment Management commented: “The world is very different to what it was a mere two years ago, and it is great to see advisers adapt by turning to specialists to navigate a more challenging climate. In-house investment propositions are expensive and time onerous when combined with the day-to-day focus of providing financial advice – in turn many advisers are utilising third party funds or model portfolios.

“The key is identifying the best partner.  Some adviser business models will benefit more from a model portfolio service, while some will prefer third party funds for the simplicity. Nevertheless, it’ll be important for IFA firms to choose those providers with enough flexibility and scale to provide a range of solutions across both these in-demand propositions.”

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