'Alternative investment business to grow'

03 January 2008 / by None
Independent financial advisers (IFAs) believe that there will be significant growth in alternative investment business due to present conditions within the financial markets, a new report has revealed.

According to a survey conducted by AXA Wealth Management, 41 per cent of IFAs think that stock market turbulence will boost the alternative investment market.

However, while 49 per cent of IFAs plan to recommend more "cautious" investment options, 54 per cent said that present volatility has not had an impact upon their clients' investment decisions.

Commenting on the findings, Nick Turner, director of sales at AXA Wealth Management, said that providing support for long-term financial planning is a "key area of growth" for advisers.

"During these difficult market conditions it is especially important to keep a close eye on client portfolios in order to provide some cushion from market fluctuations," he commented.

Last month, Barclays Wealth reported that 40 per cent of IFAs surveyed by the firm said that market volatility would continue for at least six months.

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