Blog: Time for IFAs to grab ex bank clients

News Barclays is to close its financial planning arm should be seen as a major opportunity for IFAs to attract clients who can no longer rely on their bank for advice.

Katrina Lloyd
clock

News Barclays is to close its financial planning arm should be seen as a major opportunity for IFAs to attract clients who can no longer rely on their bank for advice.

Bank 'advisers' have long been the bug-bear of IFAs who are worried consumers are unable to tell the difference between the propositions offered. Some people may argue closing off financial planning services to bank customers will lower access to financial advice to mid-market clients. My argument would be if they are only getting access to sub-standard and dangerous advice through this channel it is no great loss. At IFAonline we have been inundated by advisers telling us horror stories about the unsuitable products sold by banks to unsuspecting clients who then have fled to an IFA b...

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

Professional Adviser TV: Breaking down barriers for career movers and young talent

Professional Adviser TV: Breaking down barriers for career movers and young talent

‘Where do they go if there’s no opportunity for them’

Professional Adviser
clock 12 September 2025 • 1 min read
Feel Good Friday: IFA duo take on 240km charity cycle challenge

Feel Good Friday: IFA duo take on 240km charity cycle challenge

Andrew Home and Chris Miles raise funds for Eternal Flame

Professional Adviser
clock 12 September 2025 • 1 min read
My Care Hub expands to public following strong adviser support

My Care Hub expands to public following strong adviser support

Advice sector has played ‘pivotal role’ in successful rollout of care guidance platform

Jenna Brown
clock 10 September 2025 • 4 min read