#VoiceoftheAdviser2016: Recommendation & Word of Mouth Key To Advisers Growth But Advice Gap Grows
Every year we email the UK universe of financial advisers to get their views on the advice market and sustainable investment. 348 financial advisers completed the sixth annual Voice of the Adviser survey over a seven-week period. This is how they win your custom and how they are feeding the advice gap through rising minimum portfolio sizes.
Worth of mouth remains the single dominant source for new clients (88%). Followed by Unbiased.co.uk (36%) and online marketing (22%). In all instances, IFAs that saw growth in 2015 used more channels, more often (+20%) to win new clients.
Of those who have a minimum portfolio stipulation (half) there has been a dramatic increase in the number of advisers asking for a minimum portfolio of £100,000 in the last two years.
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