Advisers are not sufficiently broadening their service to the younger demographic, with just a quarter seeking new clients under 35, according to the findings of St. James’s Place’s (SJP) latest report.
The Future of Financial Planning report, published on 22 June, examines the factors found to be important to advisers and consumers, and provides insight on the key components of the financial planning process that will influence and shape how it may look going forward, it said. A key finding from the report was that when it comes to prospecting for new clients, almost two-thirds of the surveyed advisers targeted those aged 51 to 65, with over half (56%) looking at 66 to 75-year-olds, highlighting the need to expand to the younger demographic which remains an untapped market. It als...
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