NextWealth Financial Advice Business Benchmarks Report 2025 - Report - Page 8
NextWealth Financial Advice Business Benchmarks Report / October 2025
Figure 3: 72% of new clients come to the 昀椀rm via referrals
Q Approximately what proportion of your clients come through the following channels
Pro昀椀le of clients
This year the average portfolio size of the clients that our
survey respondents look after is £399,641.
That’s an increase of 8% on 2024, and 38% more than the
average in 2023, although this may be a sample difference
and in part a result of simple market beta; equities have risen
materially over the period (MSCI World Index up around 23%
from end-Jun 2023 to end-Jun 2025). Nonetheless we do
hear of advice 昀椀rms moving ‘upstream’ and of consolidators
targeting higher-net-worth client banks.
Our Guide to O昀저oarding revealed that nearly 50% of 昀椀nancial
advice 昀椀rms had offboarded clients in the year to October
2024. 58% expected to part company with more clients than
usual in the year ahead, and these tended to be lower value
clients who may not need a full ongoing advice service. This
shift may contribute to a rising average portfolio size.
Over a third (34%) of the average client base is aged 65 and
over, and 9% are over 75. This demographic pro昀椀le is largely
unchanged year-on-year.
The ageing pro昀椀le of many client banks is a material threat
to long-term business sustainability. One 昀椀rm we spoke
to calculated it requires 15% growth in new net revenue
simply to offset withdrawals and the expected loss of clients
through death.
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