More advisers avoiding clients with under £50,000

Advisers now less willing to take on new clients with limited assets

Sahar Nazir
clock • 1 min read

The proportion of advisers that will accept new clients with less than £50,000 has been declining steeply and is now at only 25%, down from 52% in 2019, according to the Schroders UK Financial Adviser Pulse Survey 2023.

The survey was conducted among 254 advisers between 20 October and 6 November 2023. The proportion of advisers who will only accept new clients with more than £200,000 has risen to 19%. Schroders said advisers have become less willing to take on new clients with limited assets and this could explain why they are not doing more to attract younger investors. "Advisers might be wise to consider offering services to the partners and younger family members of clients, even if these may not immediately be profitable," Schroders said. "Establishing relationships with those who may inhe...

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

'Financial advice needs an age-related reboot': Why people shouldn't wait until 55

'Financial advice needs an age-related reboot': Why people shouldn't wait until 55

Insight from UK's youngest-ever Fellow of the Personal Finance Society

Kristian Manton
clock 27 February 2025 • 4 min read
Experienced adviser launches financial education website

Experienced adviser launches financial education website

Subscription-based model designed for individuals and businesses

Jenna Brown
clock 25 February 2025 • 2 min read
Investors caution Reeves' ISA reforms 'would need to strike a careful balance' to solve UK investment crisis

Investors caution Reeves' ISA reforms 'would need to strike a careful balance' to solve UK investment crisis

‘A significant shift’ but not unprecedented

Sorin Dojan
clock 21 February 2025 • 2 min read