The £271bn 'dead money' opportunity for advisers

Average Brit has £14,049 saved - Nutmeg

Hannah Godfrey
clock • 2 min read

The £721bn of 'dead money' British adults have sitting in bank accounts and ISAs represents a major opportunity for advisers to build relationships with new clients, according to Nutmeg.

Research by the online investment management service has indicated the average adult in the UK has a substantial £14,049.30 saved but no plans to do anything with it. The study found almost three-quarters (70%) of those polled said their savings were "for a rainy day" while just over half (51%) admitted they "did not really know" why they had the money put aside. Nutmeg head of financial advice Lisa Caplan said: "Our survey shows people are literally sitting on their money, with no real plans on how to spend it, save it or invest it. "A large proportion of people tend to assume jus...

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

PA Asks: Are you worried about losing clients to targeted support?

PA Asks: Are you worried about losing clients to targeted support?

FCA outlined targeted support plans on Monday

Professional Adviser
clock 02 July 2025 • 1 min read
Aveni forms AI advisory board with wealth management leaders

Aveni forms AI advisory board with wealth management leaders

Senior execs from Aviva’s Succession Wealth, Schroders Personal Wealth, 7IM and Rathbones join forum

Sahar Nazir
clock 01 July 2025 • 2 min read
Majority of UK wealth management sector eyes acquisitions this year

Majority of UK wealth management sector eyes acquisitions this year

Continued appetite and momentum in M&A space

Isabel Baxter
clock 30 June 2025 • 3 min read