FT Adviser
22nd September 2026
‘For richer, for poorer: loyalty in financial advice’
– Paul Denley, chief executive at Oakham Wealth Management, said there was a difference between “recognising that a client no longer needs the same level of service and deciding you no longer want to provide it because they are less profitable”. “We would never move a longstanding client on, or reduce their service, simply because our commercial priorities had changed. We made a commitment and we should see it through,” he said. However, Denley said if a simpler or lower-cost service genuinely suited a client better, it was worth discussing, but the starting point was what was right for the client. “There is something uncomfortable about charging someone through the profitable accumulation years and then deciding they are no longer commercially attractive when their assets fall in later life,” he said.
