On Wednesday Nucleus released the findings of the annual census it conducts with the adviser firms who use its platform.
On average, the 400 advisers using the platform had seen their client numbers rise by 21% in the last year to 149, with one in five expecting significant growth to continue throughout 2018.
However, the survey further found the increased demand is also creating capacity issues for advisers. Forty percent of respondents reported spending less than 20% of their time with clients.
Healthy numbers
Barry Neilson, chief customer officer at Nucleus, said: “The growth adviser firms are currently seeing bodes really well for the future.
“Not only are client numbers and assets going up, but many have recognised the need to engage with them digitally, something that will appeal to future generations as wealth is passed down.”
No room for complacency
He said advisers need to realise that they cannot afford to get complacent, especially as capacity issues begin creeping in.
“Clients have big expectations for the quality of service they receive so the proposition must reflect this.
“Many will consider integrating technology into their businesses more, while others will look to outsource functions so they can focus more on financial planning,” Neilson said.
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