However 94% said it was important for them to be able to offer a CIP to their clients.
The seminars held in Bath, London and Manchester also revealed 52% felt that if a selected DFM or Multi Manager was not available on their preferred platform they would change platforms with 41% stating they would select another DFM or Multi Manager.
75% also anticipate the volume of DFM or Multi Manager business placed after RDR will increase, although 28% were uncertain about whether they fully understood procedures, suitability and due diligence requirements when using CIPs.
The advisers' main concerns about using DFMs were cost (30%), client relationships (20%) and loss of control (19%). 14.5% and 13% said regulatory issues and transparency of performance respectively. And following the regulator's stance on CIPs, 84% said minor or moderate changes within their own business had been required.
Mike Morrow, Ascentric's Sales & Marketing Director said:
"Clearly CIPs will play an increasingly important role post RDR and our seminars were designed to help identify the different options available and give advisers the opportunity to review these solutions and determine whether they fit with the needs of their clients following the FSA paper FG12/16 which provided clarity on the rules surrounding CIPs.
"With over half of advisers stating that they would change platform if their preferred DFM or fund was not available, the need for platforms to offer wide ranging investment solutions has never been greater."
