Technology key to closing growing advice gap, say advisers

Cost of servicing lower value clients too high, research finds

Jenna Brown
clock • 2 min read

More than 70% of advisers think the advice gap has grown during the past five years with many saying the pandemic exacerbated the problem, according to research from Intelliflo.

The technology provider's 2022 Advisory Business Impact Poll found 73% of those surveyed said the gap between those who get financial advice and who want it expanded over the last five years. It said more than half of advisers described the gap as "a lot wider" with 62% saying it grew even more during the pandemic. Intellifo added that while the cost of living crisis made it more important than ever that people took advice, the profile of people utilising the profession had not changed. It said most advisers (84%) clients' ethnic background had not changed, while income levels and the...

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