IFA satisfaction with Investment Providers revealed in new Defaqto Report

Investment providers are meeting the service level requirements of IFAs in only four out of ten most important service functions, a new report from leading financial research company Defaqto shows.

The report1 "Investment Service in the UK " is based on the second detailed study by Defaqto into how IFAs rate provider service levels.

Based on research among 500 IFAs2, it identifies what IFAs consider the most important investment service functions from the 32 examined, as well as the industry's preferred investment suppliers.

The service functions are grouped into nine benchmark categories to assist in handling the mass of information produced from the market research study that underpins the report.

One of the major findings in the report is the extent to which the industry is performing well in some of the less important areas but only making the grade in four of the top ten functions.

The report also provides some important competitive data by identifying the top three preferred providers in each of the six investment types examined, as well as providing a grid of indices showing how satisfied IFAs are with the 14 providers listed across the nine benchmark categories Ben Heffer, Associate Director and author of the report said, "The report illuminates the difficult area of quantifying IFA levels of satisfaction with investment providers but because of the large number of respondents and the depth of the research, we are very confident in the findings.

"Providers wishing to understand in detail exactly how their individual service levels are regarded by IFAs and how these compare with the industry average, can purchase a further bespoke report derived from the very substantial market research study that is the basis of this report.".

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