Newspaper article The Journal (Newcastle, England)

Clients Matter, Whatever the Investment Size

Newspaper article The Journal (Newcastle, England)

Clients Matter, Whatever the Investment Size

Article excerpt

HAVE you been abandoned by your investment adviser? Are you a financial adviser who is being asked to disregard some of your clients? Do you need investment guidance but don't know where to turn? We would like to talk to you.

We are hearing increasing numbers of reports of wealth managers and financial advisers effectively dismissing clients in favour of only looking after those with significant net worth.

For firms without appropriate systems and resource, we can understand the logic; the theory being that one millionaire investor is worth ten smaller clients, but we disagree. They are each valuable in their own right, in different ways.

Of course every investment firm aims to attract and retain its fair share of 'big fish' but the advice needs of the less well-heeled are no less important to them. Indeed for many, the advice needs could be significantly more important on a relative basis where, for example, an inheritance or impending retirement could be the biggest financial event of their lives.

With some wealth management firms now refusing to act for anyone who doesn't have a few hundred thousand pounds to invest, we can only imagine the emotional impact on the individual advisers who may have nurtured relationships with these 'smaller' clients for years.

The role of a financial adviser, particularly an Independent Financial Adviser is, we believe, a unique one.

More often than not, we ultimately play an important part in a client's life in terms of helping them build, protect and ultimately distribute their wealth and our relationships often develop from being trusted adviser to trusted friend and adviser and can span decades, family generations and friendship groups.

Having your firm subsequently dictate that some friends are no longer worthy must be devastating for the individual advisers.

Lowes has been built over forty years on the premise that your wealth, whilst perhaps not being millions, is as important to you, as anyone else's is to them. …

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