A time for change: addressing new priorities for a better world
1 June 17
1 June 17
According to a report by Intelligent Partnership, seven in 10 advisers reported that they expect their BPR business to increase over the next two years. Only 2 out of 190 survey respondents said they would decrease their use of BPR over the same period.
81% of advisers surveyed recommend BPR to their clients, similar to the results of last year’s survey.
IHT planning is by far the top reason for using BPR investments. Other reasons quoted include diversification (40%) and growth (28%). The number of advisers who cited growth as one of their top reasons increased this year which may indicate that advisers now view BPR not only as a way to mitigate IHT but also an asset class that can deliver capital appreciation.
When asked top criteria when selecting a BPR offer, 64% of advisers quoted transparency of underlying assets followed by provider reputation and performance history. Last year, provider reputation was the most cited criteria, and 10% fewer advisers than last year cited previous experience with provider as a criterion.
To a certain extent, it reflects that advisers are becoming less biased towards the biggest providers in the market at a time when many new players have entered the market - a healthy trend that maintains competition and gives advisers a wider range of investment options.
Jane Bligh at TWP Wealth commented: “Our clients also care about underlying investments and they often prefer investments that they can relate to.”
Benefits of Report:
After reviewing the report, readers will be able to: