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Screenshot of a breaking news alert e-mail from Q2 2017
A survey of mass affluent individuals in the UK commissioned by Saxo Capital Markets UK and conducted by YouGov, found that over 50% of respondents want more transparency on their investments and nearly 70% would like their pensions performance to be available real time and on the go. Nearly 20% of respondents said they don’t know where their pension pot is being invested.
The survey found that new technologies level the playing field between retail and institutional investors and that most wealth managers unprepared for the digital revolution.
The survey indicates a real desire to take control as 63% of those surveyed say they would consider managing their own investments rather than use a wealth manager as a way to boost their long term savings. Over 75% of respondents said they will invest some of their income over the next year to contribute towards retirement.
The survey, which interviewed 302 mass affluent individuals with investable assets of over £100,000, also showed the desire to use mobile devices is strong as over 30% of respondents expect to increasingly invest using a mobile device.
Tablets and laptops are preferred to mobile phones. The survey was conducted ahead of the launch of SaxoTraderGo in the UK today, Saxo Bank’s new multi-asset trading platform, which is available on desktop and mobile devices and aims to provide self-directed retail investors with the same tools as the professionals.
“Today, more people are taking control of their investments and our survey shows that the numbers could be even greater, with nearly half of investors believing easier access to self directed investment platforms will make them save and invest more for their future. The tools for retail investors are already out there,” said Matteo Cassina, Executive Vice President at Saxo Bank. ”Today 20% of our revenue from retail clients is generated via mobile and tablet devices and 75% of all our trades and orders come from clients who use multiple devices, including mobile to trade.
“We are at the tipping point of a digital wealth management revolution that will find most retail and private banks unprepared. So, platforms such as SaxoTraderGO are levelling the playing field between retail and institutional investors, and can provide the transparency and real time access to their finances that mass affluent consumers are looking for.”