Kent adviser to shed third of clients

clock

Kent-based IFA Brunning Newton Houghton (BNHL) is preparing to lose hundreds of clients as it seeks to cut costs in 2009.

Managing director David Brunning says the company will be writing to up to half of the 2,000 clients it considers "unprofitable" and expects to lose "around 80%" of them. He says customers will be offered an ongoing service on a fee-basis and, if they refuse, BNHL will terminate its contract with them. "It's something we should have been doing over the last couple of years but the economic climate has really brought it into focus," he says. "It is costing us simply to have them on the books. We're printing leaflets for customers and are going to be distributing them in two week's time...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Roger Brosch: Advice should also mean investing in your memory bank

Roger Brosch: Advice should also mean investing in your memory bank

Financial advice is never about the money itself

Roger Brosch
clock 27 August 2026 • 3 min read
Advice JVs: Why professional services tie-ups are moving beyond referrals

Advice JVs: Why professional services tie-ups are moving beyond referrals

Firms look to joint brand relationships

Isabel Baxter
clock 27 August 2026 • 6 min read
The banks are back: What does this mean for advisers?

The banks are back: What does this mean for advisers?

Banks ‘uniquely positioned’ to provide advice to mass market

Sophia Panayi
clock 24 August 2026 • 6 min read