NextWealth Financial Advice Business Benchmarks Report 2025 - Report - Page 10
NextWealth Financial Advice Business Benchmarks Report / October 2025
No. of advisers
1
2-5
6-50
More than 50
Willingness to engage with the
advice process
Figure 6: While many sole traders favour one-to-one service and larger 昀椀rms default to asset bands,
segmenting by service requirement gives 昀椀rms the best of both worlds
Q Which of the following factors do you use to segment your client base?
Characteristics: clients with vulnerabilities
Financial advice professionals are rethinking how they
support vulnerable clients. The emphasis has shifted from
昀氀agging vulnerability at onboarding to getting clear and
usable information. After a 2023 spike in the focus on early
identi昀椀cation of vulnerabilities (likely driven by Consumer
Duty), 昀椀rms are stepping back to assess their whole client bank
and build targeted communications.
To meet the ongoing monitoring and evidencing requirements,
a 昀椀fth of respondents say their 昀椀rms are focused on
documenting their approach to working with clients with
vulnerabilities.
Figure 7: Financial advice professionals are prioritising clear communications over one-off onboarding 昀氀ags
2025
2024
2023
2022
2021
Q Which of the following areas are you most focused on to meet the needs of clients with vulnerabilities?
10
