A survey of 115 UK IFAs carried out by online investment platform Rplan.co.uk also showed that just over a third contact clients on a quarterly basis, while 5% talk every six months, and another 5% do so monthly.
Stuart Dyer, Rplan.co.uk’s chief investment officer, said: “If investors have little or no idea what their portfolios are doing then they can end up losing many thousands without realising it.
“Portfolios should not be tinkered with too often – investment strategies requires long term perspectives. But in today’s volatile market things can go seriously wrong pretty quickly.
Rplan.co.uk offers retail investors access to over 2000 funds as well as pre-selected investment portfolios based on levels of risk.
