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IFAs ‘leading the charge’ in mFund take-up

Financial advisers are a driving force behind the take-up of mFund products, with a significant proportion of these advisers from the independent and non-aligned space, according to the ASX.

Speaking to ifa, ASX senior manager of funds and investments Marcus Christoe said one of the "surprising" things they have noticed over the past 12 months is that 60 per cent of orders for mFund products have originated from a financial adviser.

"I think the smaller, non-aligned advisers are a lot more nimble and a lot of them have already been at the forefront of acceptance of [these products]," Mr Christoe said.

"They are leading the charge within mFund."

However, Mr Christoe added that while non-aligned and independent advisers are at the forefront of using mFund products, there is also a growing number of institutionally-aligned advisers taking to mFund as well.

"What we have actually seen is that there is some quite good traction [from what] I would class as some of the institutionally-aligned dealer groups," he said.

Over the past six months, there has been a growing trend towards more institutionally-aligned dealer groups and advisers using the mFund products for their clients, according to Mr Christoe.