FSA analysing multi-manager advice after sales boost

The FSA is analysing whether advisers are giving sufficiently informed advice on multi-manager funds...

The FSA is analysing whether advisers are giving sufficiently informed advice on multi-manager funds following a recent boost in sales. This comes as 80% of advisers expect to increase the proportion of client assets held in such vehicles over the next 12 months. Latest IMA statistics show funds of funds attracted £4.5bn in the first half of 2007, compared with £1bn a decade ago. According to a survey conducted at recent MultiManager:MultiChoice roadshows, which featured several Fof managers, one in 20 advisers now use these products for over 80% of client money. To analyse the recent s...