Source has created a five-strong team in order to cope with the increasing demand for ETPs from IFAs.
Source, which is one of the largest providers of Exchange Traded Products (ETPs) in Europe, has produced data which shows that nearly one in five IFAs (18%) have increased their clients’ exposure to exchange traded products/funds (ETPs/ETFs) over the last year and 34% of IFAs expect this to increase over the next 12 months.
The new team consists of Dominic Clabby, a Director at Source, who was formerly Development Director at AXA Elevate where he focused on building and developing relationships in the UK advisory market; Damian Yeomans, Director, formerly Associate Director at HSBC Global Asset Management; Chris Norsworthy, Director, formerly responsible for intermediary coverage at Margetts Fund Management; Ngozi Onyenemelu, Marketing Associate for UK and Ireland, formerly Senior Client Communications Executive at Henderson Global Investors; and, Antoine Boulet, research analyst, who previously worked at Societe Generale on structured products distribution.
Source Managing Director of UK Coverage David Lake said: “ETFs offer fantastic value in terms of fees and choice. ETFs have largely been the preserve of institutional investors, but more recently they are being used far more widely. The advent of RDR has focused UK advisers’ attention on the benefits of this product class and we are delighted to offer them a team dedicated to their needs. We believe that UK financial advisers will represent an increasingly significant investor base for Source.”