'All evidence' points to advice gap amongst the next generation

Next generation money is ‘tied up’ in mortgages and workplace pensions

Isabel Baxter
clock • 3 min read

There is an advice gap amongst the next generation and “all evidence” points to this being the case, according to Schroders head of UK intermediary solutions Gillian Hepburn.

Speaking to Professional Adviser, Hepburn said that an AKG report sponsored by Schroders in November 2022 showed the cost of living crisis (50%) and cost/margin pressures on their firms (49%) as the key challenges facing advisers when acquiring next generation clients. She said this is "no surprise", as the recent Financial Conduct Authority Financial Lives survey indicated that in the six months to January 2023, 57% of UK adults had dipped into savings and investments (including pension savings) or had stopped saving altogether. Castlefield partner of the financial advice team Olivia...

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

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Adviser interest decreases in income-focused funds

Adviser interest decreases in income-focused funds

According to the quarterly Market Intelligence report from Square Mile

Sahar Nazir
clock 12 April 2024 • 1 min read
Schroders Personal Wealth five years on: Did it change the game?

Schroders Personal Wealth five years on: Did it change the game?

'Perhaps more evolution that revolution in the market'

Justin Cash
clock 12 April 2024 • 4 min read
Feel Good Friday: Progeny director runs for cancer charity

Feel Good Friday: Progeny director runs for cancer charity

Alex Shaw has beat lung cancer and is training for the London Marathon

Professional Adviser
clock 12 April 2024 • 1 min read