Compliance costs forcing advisers to seek clients with more in the bank

Average minimum portfolio size now at £117,000

Isabel Baxter
clock • 3 min read

Regulatory changes are forcing advisers to seek clients with larger portfolios, Scottish Widows has found.

The annual Scottish Widows Investor Confidence Barometer has revealed that since the removal of the lifetime allowance (LTA), ongoing tax and regulatory changes are affecting business operations for 79% of 200 surveyed advisers. In response to rising compliance costs, advisers are pivoting towards clients with larger portfolios. Just over half of those surveyed (51%) increased their minimum portfolio size in the past year, with the average minimum portfolio now at £117,000 — rising to £134,000 for firms with more £500m in assets under management (AUM), according to the research. In Sc...

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

Isabel Baxter
Author spotlight

Isabel Baxter

Senior Reporter at Professional Adviser

More on Your profession

TISA warns FCA's targeted support could 'cause confusion' and hinder rollout

TISA warns FCA's targeted support could 'cause confusion' and hinder rollout

Industry group calls for more flexibility on disclosure

Sahar Nazir
clock 17 October 2025 • 2 min read
You can always make more money, but you can't buy more time

You can always make more money, but you can't buy more time

What’s the ROI on a memory that lasts forever?

Chris Ball
clock 16 October 2025 • 3 min read
Autumn Budget 2025: Reeves should use Budget to 'merge ISAs not cut tax-free limits'

Autumn Budget 2025: Reeves should use Budget to 'merge ISAs not cut tax-free limits'

The updates advisers need in the run up to the Autumn Budget 2025 on 26 November

Professional Adviser
clock 16 October 2025 • 1 min read