The demand for wealthier clients has increased by almost half and advisers maximising returns at the expense of bridging the advice gap, Unbiased has found.
In its data comparing the first quarter of the past two years (Jan - March 2023 vs 2024), the firm has seen a 48% increase in demand for clients with assets of £500,000 or more. Meanwhile, demand for clients with lower asset values increased by only 3%. This growing disparity suggests financial advisers are focusing on maximising their returns at the expense of bridging the advice gap, Unbiased stated. Founder and chief executive Karen Barrett said: "Our data uncovers a troubling trend: financial advisers are prioritising business growth as they take on higher value clients. This c...
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