A survey of independent financial advisers (IFAs) by JPMorgan discovered that 40 per cent of respondents did not recommend the products because their knowledge needed refreshing.
The survey also found that a third of the respondents were not recommending the funds because they did not earn commission or trail fees from them.
Jasper Beren, head of UK retail sales at JPMorgan Asset Management, said advisers would need to include investment trusts to clients ahead of upcoming regulatory changes that will ban IFAs from earning commission.
He said, ‘Investors are clearly expressing an interest in investment trusts but it is a concern that their IFAs do not have a sufficient understanding of the investment vehicle.
Monday, July 19, 2010
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