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Sector Analysis
UK Protection Insurance 2018: Term and Whole of Life
The UK life protection insurance market for regular individual premiums grew in 2017, driven by growth of the term assurance market despite the whole-of-life market declining. Term market growth was primarily due to increased sales of non-mortgage term assurance policies by independent financial advisors, although sales in the direct channel are also increasing, reflecting demand to purchase life insurance online. Underwritten whole-of-life policies continue to be sold by independent advisors, while guaranteed acceptance over-50s products are sold direct without advice....
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Sector Analysis
Wealth in the UK: Competitive Dynamics 2017
"Wealth in the UK: Competitive Dynamics 2017", report analyzes the UK wealth management market, with a focus on the top 20 competitors and the HNW investor segment. The report uses findings from GlobalData’s 2017 Wealth Managers Survey and 2017 IFA Survey. The competitive landscape of the UK wealth management industry continues to evolve. Although there are no high-profile new entrants to the market, incumbents have started to feel the pressure from new business models focused on digital channels. As such,...
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Sector Analysis
UK Protection Insurance 2017: Term and Whole of Life
"UK Protection Insurance 2017: Term and Whole of Life", covers the market for individual regular premiums, concentrating on the main market for all types of consumers seeking their own cover. Taking protection as a whole, it focuses on the major and closely related product lines of term and whole of life insurance that broadly provide financial compensation in the risk-measured event of death or severe health issues. The report examines the size of the protection market over time, and how...
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Sector Analysis
UK IFAs, Investment Managers & Platforms 2017
Independent financial advisors (IFAs) are a key distribution network for investors in the UK. Product providers will do well to understand the priorities and criteria advisors use in selecting their investment partners and platforms, particularly with a growing tendency to cooperate with discretionary fund managers (DFMs). As nearly all advisors in the UK use a platform (or multiple) to manage their clients’ assets, understanding why certain platforms are favored above others remains crucial. Online access to platforms is important for...
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Analyst Opinions
Australian IFAs, Investment Managers & Platforms 2016
Financial advisors are a key distribution network for retail investors in Australia. All investment product manufacturers need to understand the priorities and criteria that advisors use to select their investment partners and platforms. As almost all advisors use a platform to manage their client assets under management (AUM), understanding why certain platforms are more favored than others is crucial.
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Analyst Opinions
UK Protection Insurance: Term and Whole of Life
The life market has contracted significantly over the last couple of years since the introduction of the Retail Distribution Review (RDR) and the subsequent exodus of banks providing advice, so that now both the number of contracts and the value of premiums are at much lower levels than before. With minimal change in either variable over 2014 and 2015, a new normal is taking hold in the market.
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Analyst Opinions
Wealth in the UK: Competitive Dynamics 2016
Since the introduction of the Retail Distribution Review (RDR) in 2012, the UK wealth management competitive landscape has undergone a steady evolution. New business models have emerged as both new and established players seek ways to address the range of financial demands of retail, mass affluent, and cost-conscious high net worth (HNW) individuals. Several digital platforms have launched in the UK market in 2016, ranging from extensions of traditional wealth managers to robo-advisors. With the Financial Conduct Authority (FCA) addressing...
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Analyst Opinions
Australian IFAs, Investment Managers & Platforms
With the greater transparency in fees and investment product costs in the wake of the FoFA reforms, advisors are looking for the most cost-effective means to invest in products and securities. Advisors need to detail to their clients what goes into their own charges, and so will appreciate providers that make it easy to map out costs. Platforms are first and foremost ranked by the investment fund range they offer, with almost half of survey respondents listing this as an...
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Sector Analysis
UK IFAs and their Clients; Identifying the IFA client base and how it can be grown.
Looking forward, growing affluence and an aging population will increase the amount of those seeking advice and bring more potential customers to the IFA target pool. Older clients, particularly those approaching and in retirement, form the current core group of advisor customers. The typical UK IFA client is an older male investor, reflecting the fact that older men tend to be the most affluent demographic group. Consumers who choose professional advice do so in order to receive strategic advice and...
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Analyst Opinions
UK IFAs, Investment Managers, & Platforms
The attractiveness of platforms is first and foremost driven by the investment fund range they offer. Another key consideration is investment fund returns. Beyond products and performance, low costs are important to advisors. Investment product providers are regularly reviewed by IFAs. 30% review their investment product providers quarterly and 45% do so annually. Platform sales account for a growing percentage of gross retail fund sales. 94% of advisors use platforms, with the majority relying on more than one. The three...