Six in ten (60%) financial advisers turned away clients in the past 12 months as 62% of advisers polled said they plan to retire in the next decade, research conducted by Octopus Investments has found.
The research, which sampled 255 UK advisers, found a rise in advisers planning to retire within the next decade, up four percentage points from 58% last year. Nearly a third (29%) of advisers surveyed said they plan to retire by 2025. The average adviser has worked in the industry for 26 years and a third (33%) have done so for more than 30 years. A minority (5%) have been in the industry for more than 40 years. A quarter of respondents said they were serving fewer clients than they were five years ago. Of those, just a fifth (20%) put that down to not taking on additional clients be...
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