More than half (57%) of financial advisers can no longer afford to take on clients with less than £100,000 in assets, research by Canada Life has found.
In a survey of 250 advisers, the life company found that regulatory change and increasing insurance costs has had a financial impact on their businesses. When asked what the minimum amount of assets it required to make it viable to take on a client, just one in six (16%) advisers said they would work with a client with less than £100,000. This is a significant drop from the half of advisers (50%) who said they would in 2014. Almost a third (27%), however, said they had no minimum amount of assets to take on a client. What is more, around a third (35%) of advisers said they were chang...
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