“Customers with investments of less than £50,000 are increasingly being turned away by their financial advisers. In 2014 just under a quarter of financial advisers showed customers with this level of assets the door, whereas in 2017 this figure rose to one in two advisers, according to new research by Schroders.
In total, one in four financial advisers asked clients to leave their practice in 2017 for not having enough money.
The research, based on a survey of 250 financial advisers, showed that the number of customers that advisers are no longer choosing to service has steadily grown over the past few years, with some customers being asked to leave if they have less than £100,000 or £200,000. …”