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Source appoints five-strong team to spearhead drive into UK financial adviser market


Source has appointed a five-strong team to service the UK financial advisory market. The move is in response to growing demand for exchange traded funds (ETFs)  among UK financial advisers.

New research commissioned by Source shows that nearly one in five IFAs (18 per cent) have increased their clients’ exposure to exchange traded products/funds (ETPs/ETFs) over the last year and 34 per cent of IFAs expect this to increase over the next 12 months. Only 4 per cent expect this to decrease. Nearly half (44 per cent) of the IFAs say they have increased their clients’ exposure to passive investments since the implementation of the Retail Distribution Review (RDR) at the end of 2012.
David Lake (pictured), Managing Director of UK Coverage, Source, commented: “ETFs offer fantastic value in terms of fees and choice. ETFs have largely been the preserve of institutional investors, but more recently they are being used far more widely. The advent of RDR has focused UK advisers’ attention on the benefits of this product class and we are delighted to offer them a team dedicated to their needs. We believe that UK financial advisers will represent an increasingly significant investor base for Source.”
The new team comprises Dominic Clabby, Director at Source, who was formerly Development Director at AXA Elevate where he focused on building and developing relationships in the UK advisory market;  Damian Yeomans, Director, formerly Associate Director at HSBC Global Asset Management; Chris Norsworthy, Director, formerly responsible for intermediary coverage at Margetts Fund Management; Ngozi Onyenemelu, Marketing Associate for UK and Ireland, formerly Senior Client Communications Executive at Henderson Global Investors and Antoine Boulet, research analyst, who previously worked at Societe Generale on structured products distribution.

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