According to David Lake, managing director of UK coverage at Source, there has been an increase in more retail investors and their advisers seeing ETPs over recent years.
Therefore Source needs to expand “beyond the traditional institutional market and seek to meet more effectively the needs of a broader range of investors and advisers”. Mr Lake added: “We now have 10 individuals focused on the UK, with four of them dedicated to independent financial advisers”.
Source has recently added Bhavick Patel to this team. He will be responsible for regional coverage of independent financial advisers in the UK.
The appointment comes as Source announced it has gained $3.6bn (£2.32bn) of net new assets in 2015, helping the firm reach $20bn (£12.9bn) overall in assets under management.
Dr Evrin Erdem, head of investment for Somerset-based Copia Capital Management, part of Novia Financial, said: “We invest heavily in ETFs and use a quant-based investment strategy that had previously mainly been the prerogative of the institutional investor.
“The use of passives such as ETFs in the model portfolios enables us to access more specific targeted markets, sectors and asset classes than the use of trackers alone would allow.”