European exchange-traded fund provider Source has created a five-strong team to service the UK financial advisory market.
According to David Lake, managing director of UK Coverage for Source, this team has been created in response to growing demand for ETFs among UK financial advisers.
He 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. We believe that UK financial advisers will represent an increasingly significant investor base for Source.”
This comes as research commissioned by Source showed that nearly one in five IFAs (18 per cent) have increased their clients’ exposure to exchange traded products/funds (ETPs/ETFs) over the past year.
Some 34 per cent of IFAs expected this to increase over the next 12 months, while 44 per cent of the IFAs surveyed said they have increased their clients’ exposure to passive investments since the implementation of RDR.