IFA Centre warns against deserting low-value clients

Managing director Gill Cardy (pictured) said many IFAs feel a "moral obligation" to serve all existing clients, regardless of income. "To desert low value clients just because they are not very profitable does not fit well with the concept of treating customers fairly and it is surely the responsibility of all IFAs to build consumer trust in our brand," she said. "The approach to dealing with low value clients seems to be to create restricted propositions with a short list of approved product providers and a limited range of in house fund. "IFAs convinced of the value of independen...