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

News editor's view: 40s are the new 50s - a move in the right direction? 

News editor's view: 40s are the new 50s - a move in the right direction? 

The news editor's Friday Night Takeaway from 1 May

Isabel Baxter
clock 01 May 2026 • 3 min read
Feel Good Friday: FOS chooses Dementia UK as charity partner

Feel Good Friday: FOS chooses Dementia UK as charity partner

Will support Dementia UK over the next two years

Professional Adviser
clock 01 May 2026 • 1 min read
Why 50:50 parenting doesn't necessarily mean no child maintenance

Why 50:50 parenting doesn't necessarily mean no child maintenance

'In many cases, one parent will meet a greater share of the children’s financial needs'

Clizia Motterle
clock 01 May 2026 • 4 min read