The proportion of advisers that will accept new clients with less than £50,000 has been declining steeply and is now at only 25%, down from 52% in 2019, according to the Schroders UK Financial Adviser Pulse Survey 2023.
The survey was conducted among 254 advisers between 20 October and 6 November 2023. The proportion of advisers who will only accept new clients with more than £200,000 has risen to 19%. Schroders said advisers have become less willing to take on new clients with limited assets and this could explain why they are not doing more to attract younger investors. "Advisers might be wise to consider offering services to the partners and younger family members of clients, even if these may not immediately be profitable," Schroders said. "Establishing relationships with those who may inhe...
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