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15/12/2006 - Advisers choose multi-wraps

Only one in three advisers will rely on a single wrap provider in the future according to a survey by SimplyBiz. The survey of 1,400 SimplyBiz clients highlights the concerns reliance on a single wrap may have on their independence. The biggest group of respondents, 31%, believed they would use two wraps while a further 23% forecast they would use three. Twenty eight advisers, or 2% of the poll, expected to use 10 wraps while 8% said they would avoid wraps altogether. Although 40% already used wraps with another 47% planning to make the move in the next 12 months, half of advisers believed they needed further training and information.

The survey also confirmed a shift to a fee-based model, with 67% of those surveyed taking a fee.

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15/12/2006 - Advisers choose multi-wraps