Chris Jones assesses the origin of the advice gap, what's changed in the last 10 years and why younger clients are worth it for advisers in the long run...
Financial Advice used to be everywhere. Everyone could get it and it seemed to be a lot easier to do. There wasn't an advice gap; quite the opposite with advisers needing leads, introducers and referrals so that at times it felt more like there was a client gap. So, what's changed? The FSA's Guidance Consultation GC 12_03, Retail Distribution Review, is now 10 years old and many would attribute the ‘advice gap' to that review, both in terms of the supply of advisers and the types of clients they can afford to serve. The number of retail investment advisers was 40,566 ten years ago a...
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