Deputy Editor's View: Economic conditions hit adviser turnover

The deputy editor's Friday Night Takeaway from 20 January

Jenna Brown
clock • 2 min read

Lower adviser turnover in the face of "harsh" economic conditions was the main headline from The Lang Cat's State of the Adviser Nation latest report.

It found a third of advisers foresaw lower turnover for 2022 compared to 7% which expected a drop in 2021 and 42% in 2020. However, it added that financial advice proved its resilience with 42% of advice firms predicting turnover would increase and 27% forecasting a level turnover for 2022.  Client retention, however, was high. It said 76% of firms said very few clients left their books in any given month and 94% said they consistently added new clients "even in this harsh environment". In a late entry to the top news stories of the week, the Personal Finance Society (PFS)/Chartered I...

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