Capturing new clients in the managed funds market is going to challenge financial advisers and fund managers despite increased investor interest, according to research.
The boom in the Australian equities market has attracted new clients to managed funds and direct share trading.
The Nielsen Company's bi-annual Retail Wealth management Report showed eight per cent of consumers intend to open a managed account for first time in the next six months.
However, The Nielsen Company financial services director Glenn Wealands warned fund managers and planners should keep on their toes.
"With an increasing number of affluent, web-savvy Generation Ys expressing interest in the investment markets - fund managers and advisers will need to ensure their value proposition is clearly being articulated, and that their online channels provide a compelling response to prospective clients' needs - particularly around product information, unit prices, and fees and charges," he said.
The report found the top five fund managers by client satisfaction were: ING Australia/ANZ at 6 per cent, AMP 58 per cent, Colonial 58 per cent, Westpac/BT 57 per cent and MLC 51 per cent.
Wealands said the threat of a downturn in the market meant that fund managers and advisers needed to focus on keeping clients up to date.
The report was based on responses from more than 2500 Australian consumers with retail managed funds accounts.
