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United Kingdom Wealthy Investors Consumer Research Report 2018 Featuring Barclays, Intrinsic, Prudential & St James's Place -
[February 21, 2019]

United Kingdom Wealthy Investors Consumer Research Report 2018 Featuring Barclays, Intrinsic, Prudential & St James's Place -

The "Wealthy Investors 2018: Consumer Research Report" report has been added to's offering.

The aim of the Wealthy Investors Consumer Research report is to study UK consumers with investible wealth of 75,000 and above. It considers how these individuals invest their money and obtain and judge the advice they receive when they make financial investments. Wealth in this context is taken to include money currently invested in risky investments products, money held as cash and money held in defined contribution pensions which can be accessed by the pension holder (i.e. the pension holder is aged 55+).

The report considers what types of financial products wealthy investors hold, how much they understand about the investment process, their overall approaches to investing, the type of financial advice they want and how they access advice. It also considers how wealthy investor investment behaviour has been influenced by online developments such as fund platforms.

Just under one-third of Investors can be called Wealthy Investors, having 75,000 or more spread across risky investment products, cash and/or defined contribution (DC) pensions which can be accessed by their owners. Relative to Investors with less wealth, Wealthy Investors are more likely to be male, mature and affluent (from professional occupations). Just over one-in-ten Wealthy Investors can be classified as Millionaires. Wealthy Investors like to do it for themselves

More than half of Wealthy Investors have the confidence to handle their investments without professional help. If they do seek professional help it is primarily used in conjunction with (and not as a substitute for) their own DIY investing actions. Wealthy Investors who take professional advice, show a strong preference for using Independent Financial Advisors (IFA), with IFAs especially popular among Investors who lack confidence in their investing abilities and those who hand over all their investing to professional advisors. Despite the preference for going it alone, the Wealthy Investors research identifies ample opportunities for financial advisors to expand into this market.

Key Topics Covered:

1. Executive Summary

  • Around one-third of Investors fall into the Wealthy Category
  • It's been a good year for the wealthy
  • Wealthy Investors are often confident at handling their investment alone
  • Wealthy investors prefer balanced returns over the medium to long term
  • And they adopt a simple selection heuristic
  • Wealthy Investors balance trust and quality whenselecting an advisor
  • Wealthy Investors show a preference for IFAs and like the advice they have received.
  • Prudential, Barclays, Intrinsic and St James's Place are the most widely used advisory firms
  • Future Opportunities
  • Advisors need to embrace online technologies

2. Introduction

  • Definitions
  • Abbreviations

3. An Introduction to Wealthy Investors

  • Key findings
  • Almost one-third of Investors fall into the wealthy group
  • Acceptance of risk grows with wealth
  • But there are limits to the risks that will be taken
  • Equities and SIPPs the most popular risky investment held
  • Age, gender and income the great discriminators
  • Almost Eight-in-ten Investors have an ISA
  • Stocks and share the main component of Investment ISAs
  • And they form a significant component of Investment funds/pension products
  • Wealthy fund holders like their fund actively managed
  • Cash will be king over the coming year
  • The wealthiest Investors the most likely to invest more
  • Wealthy Investors had a good year

4. The Investment Mindset

  • Key findings
  • Wealthy Investors are confident in their investing abilities
  • Two categories of Wealthy Investor
  • Confidence and knowledge helps breeds wealth
  • Like all Investors, Wealthy Investors have a strong independent streak
  • Investment confidence drives the approach taken to investing
  • Four-in-ten Wealthy Investors are Confident DIYers
  • Being confident or taking advice tends to drive asset ownership

5. How Retail Investors Judge What to Buy

  • Key findings
  • Wealthy Investors like to accumulate monthly
  • Wealthy Investors take a balanced view of their returns
  • Wealthy Investors want medium-to-long term investments
  • Investment judgements change according to the level of wealth owned
  • And according to the type of Investor
  • Investors focus on easy to understand product features
  • The 300,000 wealth divide
  • The bigger the risks taken and the less confidence you have the more you deliberate about your choices

6. Selecting a Financial Advisor

  • Key findings
  • One quarter of Wealthy Investors wouldn't know where to start
  • Wealthiest Investors with diverse portfolios have the easiest task
  • Trust factors the stronger drivers of advisor selection
  • Investors Lacking confidence need assurance on trust
  • Wealthier Investors are more demanding and especially want more assurance on quality
  • What type of advice do Investors want and do you really want advice?
  • Confident Advised Investors have the greatest understanding

7. How do Wealthy Investors Use of Financial Advisors?

  • Key Findings
  • IFAs are the most likely type of advisor used
  • Over six-in-ten of the Advised have met with advisor over 2017/18
  • IFAs, again are the main advisors last consulted
  • Advisors are used primarily on an advisory basis
  • Those receiving advice often let advisors execute their investment actions
  • Asset selection is the prime reason why advisors are used
  • Wealthy clients are satisfied with the service they receive
  • Most Advised Investors see a Keyfacts document which aids satisfaction
  • Flat fee and on-going fees used in equal amounts
  • Prudential, Barclays and Intrinsic the most widely used advisory firms
  • Prudential leads among current Advised Wealthy Investors

8. The Future of Advice: Advisors Vs Technology

  • Key Findings
  • Even Wealthy Investors face an advisory gap
  • Under Advised more likely to be female Investors with lower levels of wealth and income
  • Even Confident DIYers could benefit from guidance services
  • Opportunities exist because advisors are considered as the best source of information
  • Cost, complexity and self-belief the three main barriers to be overcome
  • Advisory firms need to exploit online tools or potentially lose Investors
  • Fund platforms are a key threat but also an opportunity
  • The Online challenge/opportunity may be even larger
  • Use of online services and sites is growing
  • What is the potential for a Robo-advice service?

9. Appendix

Companies Mentioned

  • Barclays
  • Intrinsic
  • Prudential
  • St James's Place

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