Lloyds Banking Group has announced its Financial Planning service will only be offered to clients with more than £100,000 to invest.
The firm has said it does not believe clients with less than this will be willing to pay a fee for advice, following extensive research over several months.
An estimated 1,000 advisers are likely to be affected by the change but the firm said they would be offered new roles within the business.
The firm said: "An extensive review of how the market will evolve after the RDR has shown that for the majority of our customers demand for a fee-based Financial Planning advice service decreases when they have lower amounts to invest.

"As a result, from November we will not offer an investment advice service for customers who hold less than £100,000 in savings and investments."
The change only affects the firm's Financial Planning service, basic protection advice will continue to be offered to all clients.
Lloyds spokesman Ross Keaney said the firm would be developing a range of savings products next year for customers who had less than £100,000. They would also be able to access a non-advised service through Halifax, Bank of Scotland and Lloyds TSB.
Those who did have the required amount of assets would be referred to a Lloyds Private Banking service.