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Home > Business/Finance > Financial Services > Financial Management
The Spanish Financial Advice Market 2005
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| Published Date:
March 2005
Published By:
Datamonitor
Page Count:
54
Order Code:
R313-8405
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Introduction
Spain has one of the most conservative financial services distribution markets in Europe. However the rapidly growing wealth of Spanish consumers makes this a potentially very attractive market for independent financial advisers, but advisers will need to make consumers understand they have a need for independent advice before they can fulfil it.
Scope
This brief covers the Spanish market but gives crucial background information about the wider European market
It covers the market share held by financial advisers in the mutual fund and life and pensions markets and forecasts forwards
It covers the market share held by financial advisers in the mutual fund and life and pensions markets and forecasts forwards
It contains survey information drawn from interviews with more than 20 key financial advice companies in Spain
Highlights
Independent financial advisers account for only 3% of life and pensions distribution in Spain, while independent brokers (who only sell insurance products) hold a larger share at about 5%. This is largely because offering independent financial advice in the Spanish market is not regulated, whereas independent brokerage is.
The limited nature of the Spanish independent advice market means that advisers tend to be focused in a particular area, rather than drawing their revenues from a wide range of product types. Most competitors either draw the majority of their revenues from general insurance or equity-based investments.
Spanish financial advisers are positive about the future of the market for financial advice in their country. 76% of Spanish financial advisers believe that financial advice is a growing element of the financial services distribution market in Spain while only 12% disagree.
Reasons to Purchase
Understand the attitudes and opinions of key players in this crucial distribution channel in order to market to it more successfully going forward
Size the proportion of the life and pensions and mutual fund products currently being sold through this channel
Assess the importance of this channel for distribution strategies going forward
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