The average fund size advisers give advice on is just over £59,000 though many still advise on lower pots, Prudential research has found.
Almost half (43 per cent) of the advisers polled say they do not have a minimum pension fund cut-off point for their services.
Advisers also say clients are increasingly vulnerable to scams and have low confidence after pension freedoms, leading to further longevity risks driven by poor savings habits.
Close to two-thirds of advisers (66 per cent) say a lack of saving is the most common issue among clients, along with failing to seek advice earlier in the accumulation phase.
Nearly one-third (31 per cent) of advisers also say they regularly see clients with very limited understanding of their investments.
Prudential retirement income expert Vince Smith-Hughes says: “Savers are having to take greater responsibility for ensuring their retirement funds last the rest of their life and there is a risk they pick the wrong type of investments or fall foul of fraudsters who promise high level of returns.
“This is why high-quality financial advice is good value for money. It will provide people with a financial plan for retirement, help them select the right type of retirement plan and avoid inappropriate investments.”
Money Marketing reported NS&I findings in April that showed a majority of advisers do believe in actively supporting a savings culture by managing some small portfolios.
One hundred advisers were surveyed as part of the research.