Money for the many — how advisers can reach the clients others ignore

When I joined the profession, I quickly discovered that many advisers hadn’t planned to be here. Most describe their path into financial advice as an ‘accident’. That wasn’t the case for me.

During my limited free time as a scholarship student-athlete in Missouri, I began researching money — what it is, what attracts it, and which economic schools of thought best stand up to evidence. Put simply, I didn’t stumble into this career by chance; I set out deliberately to understand the language and tools of wealth — and to make them accessible to anyone courageous enough to act.

What I didn’t expect, once I entered the profession, was to find such a complex regulatory landscape — one that has led many firms to accept only clients with £100,000 or more in investable assets. I couldn’t believe it. Did this mean that to work in financial advice I’d have to settle for making the [relatively] wealthy even wealthier??? That didn’t sit right with me, so I started searching for a better way.

Just two months into my career, I met Victor Sacks, Director of VS Associates, at a Lang Cat event. He spoke about how he makes advice available to clients who are typically excluded from traditional advice models. At that same event, I learned about Pete Matthew, CEO of Jacksons Wealth Management, whose more unconventional methods I’ll return to shortly. A few months later, I came across Jo Wall, CEO and Founder of Joyful Wealth.

All three have developed distinctive ways of serving clients who would usually be turned away — and all were generous enough to share how and why they do it. They also told me their stories, which revealed why helping these clients matters so deeply to them.

This is what I learned.

Victor Sacks charges a flat fee for virtual meetings, offering one-off advice. After helping clients establish a sound financial strategy, he leaves the door open for them to return if their circumstances change or they want a review.

Jo Wall takes a hybrid approach, blending subscription-based (non-regulated) financial coaching with regulated advice charged at a flat 1% fee, capped at £5,000. Joyful Wealth’s structure allows Jo to stay close to clients as they work towards their goals, while offering encouragement and guidance along the way. Clients can mix and match services to suit their needs, with clear pricing from the outset. Some argue that 1% is not ‘affordable’, but as Jo put it to me: ‘1% of very little is still very little’. In reality, Joyful Wealth’s model strikes an impressive balance between accessibility and sustainability.

Pete Matthew’s approach is different again. As CEO of Jacksons Wealth, he largely serves the same client base as most IFAs, but he’s dedicated years to educating the wider public. His Meaningful Money podcast and Meaningful Money Retirement Guide have helped thousands build a solid understanding of personal finance and retirement planning.

Speaking to Jo, Victor and Pete taught me something important: there are ways to help those who can’t afford traditional advice. Whether through flat-fee models, subscription services, or freely available educational content, advisers can no longer claim it’s ‘impossible to serve lower-net-worth clients because of regulatory costs’. I use those words intentionally, because I’ve heard them many times… and they simply aren’t true.

Before I close, I want to be clear: advisers who focus on higher-net-worth clients aren’t ‘bad people’. What I hope to do here is show that, for those who want to serve a broader audience, it’s entirely possible. If you believe the FCA or other regulators have made it “impossible” to help certain clients, Victor, Jo and Pete are living proof to the contrary.

I’m no longer disheartened by the number of clients who struggle to access advice. I’m energised because I now know that it is being done, by firms and individuals who refuse to accept that ‘impossible’ means ‘unchangeable’. And I suspect there are even more great ideas out there still waiting to be tested.

Photo by Rob Curran on Unsplash