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High expectations for advisers to increase client base in 2015
Wrap platform Nucleus has reported that more than six in ten of its members are expecting their client numbers to rise this year.
Some 62% were anticipating an increase, according to the research in Nucleus’ annual Census 2015, which took in the views of over 200 advisers.
The IFP corporate member found that 14% of advisers believed their business would experience ‘significant growth’ over the next year.
Throughout 2014, the survey reported business for adviser firms improved, with average gross turnover increasing year on year.
Just under half of respondents (47%) reached a turnover in excess of £400,000 compared with 40% the previous year.
Existing clients continued to play a major part in ongoing business for adviser firms, with two-thirds of firms revealing that more than 60% of their business came from existing clients, while just over one-third of adviser firms (35%) reporting less than 20% of business had come from new clients.
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Other key findings from Nucleus’ census results 2015 include:
• Majority of advisers have between 100-499 clients who typically own between £100k-£250k of investible assets with the majority earning between £50k-£100k per year.
• 38% of businesses manage over £100m at firm level and 51% manage assets between £20m-£100m.
• 69% of Nucleus’ adviser audience is under the age of 50 with just over one-third (34.7%) aged less than 40.
• Nucleus users are spending most of their time on client reports and time with clients – each option getting 21% in the poll.
• 72% of the Nucleus community use LinkedIn and 51% are active on Twitter.
Barry Neilson, Nucleus business development director, said: “Our annual census provides a definitive record of Nucleus users’ progress, as they continue to grow and develop year-on-year.
“The latest findings reflect the positive attitude of our community, which is determined to make the most of the available commercial opportunities and position themselves to achieve further growth over the coming year.
“With turnover up sharply and a strong increase in client numbers expected in the next 12 months the future looks extremely positive.”
He suggested the findings showed the conditions for growth are in place for the “most dedicated and pro-active firms” to succeed.