Ignoring the advice gap to focus overly on 'elite' clients could see financial planners and advisers putting themselves out of business, Defaqto insight consultant Gill Cardy has warned.
Addressing delegates at the Chartered Institute for Securities and Investment (CISI) Financial Planning Annual Conference, she argued advisers who direct too much of their efforts and resources towards high-value clients put themselves at risk from innovations with mass-market appeal that could potentially push advisers out of business. Cardy (pictured), a former member of the Financial Advice Market Review Expert Advisory Panel, explained new innovations that service the needs of the mass market and those in the 'advice gap' would eventually make their way into the 'elite' section of th...
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