Challenging the idea that 'lower value' clients are not valuable

‘Advisers are not willing to solve this problem and need to speak up’

Isabel Baxter
clock • 2 min read

Advisers need to “speak up and make noise” about the issue of dismissing lower value clients, Asset Management Financial Advisers managing director Matt Wood says.

The vast majority of advisers feel it best to disengage with lower value clients, according to Wood. He also noted that young people tend to fall into the category of "lower value and unprofitable" clients. "Lower value clients have been cornered to think that they cannot receive financial advice," he added. "Or we are siloed to pick the very simple form of it where we follow a one-size-fits-all approach. Advisers are not necessarily willing to solve this problem." Advisers give Consumer Duty as a reason for their disengagement with this group of clients, Wood noted. "It is time...

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