70 per cent of financial advisers would offer advice on small investment portfolios of £50,000 or less, according to a survey by NS&I.
The figures collected in January show consumers believe financial advisers are not willing to advise on amounts under £50,000, but a majority of advisers believe in actively supporting a savings culture through the management of small portfolios.
NS&I head of intermediary relationships Andrew Pike says: “Many see the amount of savings they have as a barrier when it comes to seeking professional financial advice, but it is encouraging that advisers are more than happy to advise on £50,000 or less, with almost 40 per cent also saying that they would advise on £25,000 or less.”
The data also shows market volatility is leading to record percentages of cash deposits in easy access accounts and shorter duration fixed-term products.
Pike says: “It’s very interesting to see the trend towards advisers recommending to their clients that they invest more of their money in cash to ensure ongoing security and liquidity.”
The push towards more security for consumers also reflects NS&I findings that 41 per cent of British savers consider security as their priority over returns.