IFAs Infrequently Update Clients

by | Apr 10, 2015

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An online investment platform has concluded that many financial advisers only infrequently update their clients, with nearly half questioned within a survey replying that they made contact only once every 12 months.

Only 5% of IFAs questioned said that they contacted their clients on a monthly basis. A further 5% said contact was made every six months and 37% admitted to once every three months.

The information comes from Rplan.co.uk, a platform which offers retail investors access to over 2,000 funds as well as pre-selected investment portfolios.

Rplan.co.uk’s CIO Stuart Dyer said: “If investors have little or no idea what their portfolios are doing then they can end up losing many thousands without realising it. Portfolios should not be tinkered with too often – investment strategies require long term perspectives. But in today’s volatile markets things can go seriously wrong pretty quickly.”

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