More advisers avoiding clients with under £50,000

Advisers now less willing to take on new clients with limited assets

Sahar Nazir
clock • 1 min read

The proportion of advisers that will accept new clients with less than £50,000 has been declining steeply and is now at only 25%, down from 52% in 2019, according to the Schroders UK Financial Adviser Pulse Survey 2023.

The survey was conducted among 254 advisers between 20 October and 6 November 2023. The proportion of advisers who will only accept new clients with more than £200,000 has risen to 19%. Schroders said advisers have become less willing to take on new clients with limited assets and this could explain why they are not doing more to attract younger investors. "Advisers might be wise to consider offering services to the partners and younger family members of clients, even if these may not immediately be profitable," Schroders said. "Establishing relationships with those who may inhe...

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

PA Asks: Which party manifesto proposals for FS do you favour?

PA Asks: Which party manifesto proposals for FS do you favour?

This week’s poll also looks at the lifetime allowance and NI cuts

Professional Adviser
clock 17 June 2024 • 1 min read
Building trust: How to support clients going through a divorce

Building trust: How to support clients going through a divorce

'Hardest part of our job is telling the client what they don't want to hear'

Tamara Glanvill
clock 14 June 2024 • 4 min read
Majority of un-advised with stock investments have no financial plan

Majority of un-advised with stock investments have no financial plan

‘Many are realising the need for expert financial support in later life’

Hope Coumbe
clock 12 June 2024 • 1 min read