Millions of investors are preparing to ditch their financial advisers and take a DIY approach to investing a new study has revealed. An AXA Wealth study has reportedly concluded that 54 percent of investors are only planning to use financial advisers for more complex decisions, such as those revolving around pensions.
Investors would essentially ‘self invest’ for other less complex transactions, according to a report in the Daily Mail.
It is estimated that there around 7 million investors in the UK who use a financial adviser, and the new upfront charges which will be displayed by advisers from 2013 are expected to act as a catalyst for investors to ‘go it alone’.
The AXA study also revealed that 13 percent of investors are confident to go it alone, with 29 percent expressing an interesting in learning more about investing for themselves.