UK intermediaries mostly satisfied with asset managers

Research by Fundamental Media reveals the lowest satisfaction levels for client-facing support and training

Key points:

• At 87%, the overall level of satisfaction with asset managers is high among financial intermediaries in the UK.
• Commentary and insights about markets and strategies are well perceived along with information about asset allocation.
• Recommendations from peers, along with seminars and events, are the main triggers of research on new funds.

Overall, UK financial intermediaries are satisfied with the asset managers they work with but would like to see improvements on client-facing support and training, research by Fundamental Media reveals.

From June to September 2023, we surveyed 156 financial intermediaries in the United Kingdom, consisting of 113 financial advisers and 43 discretionary portfolio managers/fund selectors, about their investment views, satisfaction with asset managers and media consumption. The UK engagement report is part of our European financial intermediaries research, which also includes reports on Germany, Italy, France, Spain, Switzerland and the Netherlands.

At 87%, the overall level of satisfaction with asset managers is high among financial intermediaries in the UK. Intermediaries are particularly satisfied with asset managers’ online events and communications, with advisers favouring online events and DPM-FS more positive about online communications. On the other hand, intermediaries were the least satisfied with client-facing support and training.

The satisfaction with asset managers’ communication is high, especially regarding updates via email and newsletters. Commentary and insights about markets and strategies are well perceived along with information about asset allocation. Regular updates, access to portfolio managers, proactivity in sharing commentary/insights and personal relationships with salespeople are all valued by intermediaries.

When it comes to fund selection, cost and investment philosophy are by far the most important factors for UK financial intermediaries. DPM-FS are more focused on fund manager tenure and comments/insights from fund managers, while advisers rely more on fund ratings.

Recommendations from peers, along with seminars and events, are the main triggers of research on new funds. Editorial is a more important factor for advisers, while DPM-FS prefer fund managers’ interviews and videos. Fund performance and strategy are the most researched information. Advisers are more interested in factsheets, while DPM-FS prefer fund holdings.

Other findings from the 2023 UK engagement survey include:

• Investments in global equities, emerging market equities and multi-asset are the most likely to increase along with ESG and active management.
• While the majority of financial intermediaries prefers online events, DPM-FS are slightly more in favour of physical events. Further improvements could be made by making online events more interactive, quicker and engaging, and by increasing the number of local physical events.
• While more respondents compared to 2021 claim not to read print publications, readership figures show an increase for some print titles. Just over half of intermediaries listen to podcasts for business purposes with DPM-FS more likely to do so.
• The use of most social media decreased compared to 2021 but for both audiences LinkedIn remains the most used for business purposes. Networking and reading industry news are the main reasons for using social media.

For access to the full reports, contact [email protected]