Brewin Dolphin is cutting investment services for clients with portfolios valued at under £50,000, in light of the incurred costs.
The discretionary fund manager launched a review of these clients' suitability for bespoke services in July.
Brewin Dolphin head of investment management Stephen Ford said affected clients are being informed of the decision.
He said: "Over the past decade it has become clear that our clients prefer to delegate the day to day management of their investments to Brewin Dolphin and we believe that by doing so, the vast majority of clients have the potential to achieve better outcomes.
"We are now reacting to this change in client needs by re-focussing our proposition and resources around helping more people with their money on a discretionary basis.
"We are still committed to our existing clients who decide to stay with an advisory service and we are also simplifying our proposition by withdrawing some other outdated and less suitable services such as certificated accounts and portfolios with less that £50k.
"We have already started communicating with the affected clients and they will be given plenty of time to consider either our revised propositions or an alternative service elsewhere."
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