Discretionary fund manager Timeline, founded by Abraham Okusanya in 2018, recently hit £3bn assets under management. Its Classic MPS ranges from 0-100% equity allocation with an average ongoing charges figure of 0.13-0.22%.

Data from the report is drawn from Defaqto Engage, which is used by more than 30% of advisers in the UK.

It depicts the most popular managed portfolio solutions chosen on the platform by a representational cross section of the UK IFA market, excluding recommendations made on vertically integrated distribution networks.

Two Brewin Dolphin offerings came second and third, following by the Waverton Growth and Balanced.

See also: Evelyn Partners Core MPS team increases government bond exposure

10 most recommended MPS by advisers in 2023

This ‘consumer revolution’, where clients are becoming more involved in their financial planning, has been fuelled by limitless information online and an explosion of client-focused technological innovation within the financial services industry.

Also take a look at this Client Case Study – 46.06% Increase in Revenue in 6 Months.

Tech is informing investors

Technology and social media is leading investors to expect ever-greater efficiency, transparency and accessibility.

Wherever you turn, those looking at the future of financial advice are talking about fintech and robo-advice as a way of automating, at least to some extent, some aspects of the advisory, research and client-servicing process.

Yet while recognising the need for technology to provide better service and analysis, many customers, particularly those with higher-net wealth, still value the personal relationship with you, their adviser. Finding a great financial adviser remains a critical stage in their purchasing process.

And while referrals may continue to be a key method of business acquisition for financial advisers, it would be savvy to prepare for the likelihood that those customers will undertake some online research about you before you meet them – or certainly before they take the plunge and sign on the dotted line.

According to a recent study, 65% of clients research potential advisers through social networks, and 86% use those networks to help in their buying decisions.

These are numbers you can’t afford to ignore, especially as they are set to increase. According to www.statista.com, the number of social media users worldwide will grow from 2.5 billion today to more than 3 billion by 2021.

Join the debate

When you are comfortable, start joining discussions by asking questions, gaining perspectives and commenting
with your own expertise.

Be careful not to sell your product or service –  instead you are promoting your expertise and building your credibility.

Investors searching for answers to their specific questions online might be attracted to you as they read and trust your voice.

You can actively seek out prospects, too – you can locate very targeted audiences with LinkedIn’s advanced search. You can find people by job title, location, industry, education, current/past company and language. If you are a Premium LinkedIn member, you can segment even further.

There are also a number of paid advertising opportunities on LinkedIn. For instance, you can pay for your articles to be seen by high net-worth individuals, or you could place ads on profiles that click through to your website.

In fact, you can even use LinkedIn to send emails to specific audiences on your behalf. For more tips read this blog article.

At RL360, we’ve been aware of the power of social media for a number of years and see it as a key component of our marketing mix.

As the number of social media users continues to rise, we are confident it will remain a primary way to communicate with prospective and existing customers well into the future.

Learn how digital media can help advisers connect with new customers