Fewer people will have access to on-going advice at the end of 2025 than at the start, NextWealth has warned.
NextWealth CEO Heather Hopkins said the access to advice will rebound in the medium term (3-5 years) but "2025 will continue to see a shrinking in access to advice". Hopkins referenced Schroders Personal Wealth CEO Mark Duckwork who said at the NextWealth Live 2024 conference that "one of the measures of success of our event should be to track the number of people with access to ongoing advice". However, Hopkins said the mounting regulatory burden is preventing access. "The cost of delivering advice keeps going up, forcing financial advisers to increase minimum fee income," Hopkins wa...
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