Advisers dominated by search for new clients

The research reveals less than half of the respondents undertook an annual review with their clients, and existing customers account for less than one third of new business. Joanna Hall, who led the survey at professional services firm Towers Perrin Tillinghast, says the survey suggests the majority of so-called new clients are recycled from other organisations and existing clients are not benefiting from the full value of advice available. She states: “A cultural change is needed whereby the current ‘sell and move on’ approach is replaced by a regular and ongoing advisory service.” ...