Growing and maintaining client relationships is at the forefront of advisers’ priorities for the coming year, says Unbiased.
New research by the advice platform found that 34% of advisers cite client acquisition as their top business priority over the next 12 months, while 23% say they are focussed on client retention.
It comes against a backdrop of declining sector productivity, tighter margins and mounting regulatory pressures.
The focus on clients is significantly ahead of other areas, the research found, with 14% of advisers ranking technology adoption as a top business priority and 9% stating the expansion of services.
Meanwhile, regulatory compliance was a top priority for 8% of advisers, while 3% said succession planning was a key focus and the same number cited staff recruitment.
When asked what would help them serve clients better, advisers called for less paperwork, more automation, and greater fee flexibility.
These findings come at a time of heightened demand for financial advice, as economic uncertainty following recent tax reforms and ongoing speculation around inheritance and capital gains tax have led consumers to seek clarity and reassurance.
Matt Cockayne, chief revenue officer at Unbiased Pro, said: “Client acquisition is about more than growth; it’s about future-proofing their businesses.
“With demographic shifts and regulatory changes accelerating, advisers who can attract and retain the right clients will be best positioned to thrive.
“There’s a real opportunity to unlock efficiency through smarter technology and strategies that can help advisers grow sustainably and connect with the right clients faster.”
Main image: marsha-reid-9sFYH5ciaA-unsplash
