2017 closed with a record balance for the networks of financial advisors: total net inflows, with 39,2 billion euros and an increase of 18,9% compared to the previous year, was the highest ever recorded from Assoreti. Investment decisions, during the year, strongly favored asset management products, with net resources equal to 35,0 billion euro and an increase of 89,5% compared to 2016, while the overall balance of movements on administered products, positive for 4,2 billion euro, suffered a substantial decrease (14,5 billion in 2016).
In the area of managed savings, we note the prevalence and cyclical growth of net investments made directly in UCITS units: the inflows from collective management amounted to 18,8 billion euro (3,3 billion in 2016) and represented the 53,8% of the net volumes found in the sector. The resources are concentrated on open-end UCITS domiciled abroad, with net volumes of 15,5 billion euro, while the annual balance of open-ended funds governed by Italian law is positive for 3,1 billion. The result of deposits achieved on individual portfolio management also increased, with total investments of 4,2 billion euro (+79,7% compared to 2016).
In particular, the resources transferred to the GPF amount to 2,7 billion euros (+93,4%), while the net volumes of investments in the GPM are equal to 1,5 billion euros (+59,4%). The valuation of the net premiums paid, during the year, on insurance/pension products is equal to approximately 12,0 billion euro (-6,8% compared to 2016). Of these, 5,4 billion are invested in unit linked, 4,6 billion in multi-class policies and 1,2 billion in traditional life products, while for index linked the balance is negative for 182 million euro. In 2017, the net resources flowing into the open UCITS system, through the activity carried out by the networks, therefore amounted to 31,7 billion euro, representing 41,3% of the total net investments made in open collective management (76,7 .XNUMX billion euros).
The balance of movements in financial instruments under administered regime is negative for 33 million euro: the broken down data show the prevalence of purchase orders on shares (3,1 billion) and on the ETP family (671 million euro), while the divestments on government securities (-1,1 billion), bonds (-1,7 billion) and certificates (-1,9 billion) prevailed. The annual collection of liquidity is positive for almost 4,2 billion euro. At the end of the year, the first customers holding contracts rose to 4,049 million (+4,3% compared to the end of 2016). The number of financial advisors qualified for the OFS with a mandate from the companies included in the Assoreti survey is equal to 22.437 units (24.976 units for the entire team – estimated figure); of these, 22.127 units are actually operational (with portfolio > 0).
Looking at the performance of individual managers, the Fideuram Group (Fideuram, Intesa Sanpaolo Private Banking and Sanpaolo Invest SIM) took first place in the annual ranking, with inflows of around €12,2 billion and higher assets under management to 11,5 billion.
