Advised clients in the UK are investing in ‘side-hustle’ accounts, alongside their main portfolio through their financial planner, research from Boring Money found.
The study, from a survey of more than 6,500 Brits, shows that 19% of advised clients also hold an account with one of the big DIY investing platforms.
A small minority even hold positions in speculative and illiquid assets.
The research discovered that 9% of investors using a financial adviser also hold some cryptocurrency assets, while 4% said they had a peer-to-peer or crowdfunding platform account.
Jessica Galletley, Boring Money research manager, said: “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.”
