The report, ‘Winning Propositions: The consumer market post-RDR’, reveled that only 19% want to be fully self-directed. The report also found that that the number of these people looking for advice has increased, with 75% saying they had used an adviser in the past, but 85% saying they were willing to use one in future.
The report further revealed that one in eight (13%) individuals from mass-affluent to high-net-worth households are specifically likely to seek out an ongoing fee-based service. However a further 40% are receptive to task-based advisory services.
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The report indicated that interest in using a professional adviser peaks among individuals with a household income of GBP150,000 to GBP250,000.
Jasper Berens, head of UK funds at JP Morgan Asset Management commented: "Our research reveals that the most sought-after client segment – those expressly seeking to pay for ongoing advice is relatively small – and firms seeking to service this segment really need to be on the ball in terms of the service and features they offer.
"However there is also a large proportion of mass affluent and high-net worth households seeking less conventional approaches to getting advice such as task-based and guided support. Firms that can think more creatively about how they can advise and service advice-seekers may discover a large and interested market out there," Berens added.
Totally 2,000 high mass affluent to high-net worth individuals with a gross household income in excess of GBP50,000 participated in the survey.
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