Structured investment products are a top choice for Independent Financial Advisers (IFAs) seeking income for their clients in the current climate, research from Virgin Money has revealed.

The nationwide survey found that 27 per cent of IFAs chose structured investment products when it came to selecting the best option for cautious investors looking for income from a lump sum over five years.

Corporate bonds were the second choice, chosen by 23 per cent of advisers, while 15 per cent chose bank or building society savings accounts, despite the low interest rates currently on offer.

Meanwhile, the survey also revealed that advisers are starting to feel more confident about investment in general, as 79 per cent are now recommending UK shares to clients wishing to invest over the next three months.

Commenting, Virgin Money spokesperson Grant Bather said: “IFA confidence is on the rise and our index suggests that investors should now start to move away from the poor returns, but relative security, of cash in favour of better returns in other sectors.

“Structured products are seen as the best bet for income despite the Lehmans disaster last year and concerns over investor’s cash,” he added.

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