Bringing you live news and features since 2006 

Advised clients keeping secret investing ‘side-hustles’

RELATED TOPICS​

Advised clients are investing in ‘side-hustle’ accounts, alongside their main portfolio through their financial planner, research from Boring Money shows.

The figures, from a survey of more than 6,500 UK adults conducted earlier this year, show that 19 per cent of advised clients also hold an account with one of the top five DIY investing platforms.
 
A small minority even hold positions in speculative and illiquid assets. The research found that 9 per cent of investors using a financial adviser also hold some cryptocurrency assets, while 4 per cent said they had a peer-to-peer or crowdfunding platform account.
 
The findings suggest that a significant minority of advised clients are holding self-managed assets outside the scope of their relationship with their adviser.
 
These investors with a ‘side-hustle’ in DIY investing use the account to experiment in speculative assets, trade shares and dabble in riskier assets alongside their advised portfolio, says Boring Money research manager, Jessica Galletley:
 
“A significant minority of advised investors seem to want the comfort of knowing their core portfolio is overseen by a qualified financial professional, while also running a pot of money themselves as an investing side-hustle.
 
“Our findings indicate that advisers still retain remarkably high customer satisfaction rates, and we think that in most cases clients are just indulging in some investments they can experiment with outside the scope of the advised relationship.
 
“Nonetheless, it is important that the financial planning industry is alert to the fact some clients are dabbling in other assets, and will have a foot in both camps – advised and DIY investing.”

Latest News

ETP provider GraniteShares has announced it has surpassed USD5 billion in assets under management (AUM), reaching USD5.199 billion...
News came last night from the US that the SEC has approved CBOE’s proposal to list and trade VanEck’s spot..
Irish domiciled funds surpassed EUR4.3 trillion AuM (Assets under Management) at end-March 2024, a 15 per cent increase in net..
European white label ETF platform, HANetf, has announced its total assets under management (AUM) has now exceeded USD4.31 billion...

Related Articles

Timothy Rotolo, Range Funds
In 2023, Timothy Rotolo launched his business, Range Fund Holdings, the parent company for Range Indices and Range ETFs, followed...
Dan Miller, IQ-EQ
With just over a week to go till T+1 settlement begins in North America, Canada and Mexico, time is of...
Emily Spurling, Nasdaq
Last October’s ETF Express US Awards 2023 found Nasdaq winning Best Index Provider – ESG ETFs and Best Index Provider...
Vinit Srivistava, MerQube
Index provider, MerQube, launched in 2019, with the aim of providing a “technology-driven answer to the most complex, rules-based investment...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by