Merrill Lynch is predicting that the number of UK investors with financial assets exceeding £50,000 will increase 25 per cent by 2005.
IFAs are welcoming the results of the research and hope it will prove a catalyst in developing financial products that are easier for the consumer to understand.
The investment bank is predicting that by 2005 personal pensions will outstrip occupational schemes because of changing demographic trends.
It is also predicting that investment trusts and life policies will increase at the expense of cash deposits as more wealthy investors turn to the stock market in search of potential long-term returns.
Hill Samuel Asset Management is strengthening its salesforce with the appointment of Adrian Sharpe and Mark Goodman.Sharpe, who joins from Murray Johnstone, will be regional sales manager for the Midlands and South West.