Making financial advice truly essential

In late 2023, Equilibrium quietly launched a new service, staying true to our motto of “Making People’s Lives Better.” However, what started with little fanfare has quickly become a game changer for clients who want high-quality financial advice, without the barriers so common in the profession. 

Bridging the advice gap 

In 2024, the average client portfolio size in the UK of those who took financial advice was a staggering £369,689.(1) Nonetheless, on reflection, this should not seem surprising, as some financial advice firms set the bar high, requiring at least £250,000 in investable assets just to start a conversation. This has left a huge advice gap for those with less complex portfolios who still need expert guidance. 

Since 2011, we have sought to bridge this gap by offering clients the opportunity for their children, and in some cases grandchildren, who may be at a different stage of their financial journey to become clients in their own right as part of a family offering. This approach creates synergy between generations, ensuring that everyone’s financial journey is supported, and sometimes uncovering surprises such as a child’s education being covered by a grandparent’s trust when the parents were already saving for the same goal!

Over time, it became clear that this generational approach revealed a broader challenge: many people and not just client’s family members, were still unable to access traditional financial advice. As demand grew for clear, approachable guidance, Equilibrium Essentials emerged as a solution by removing the high portfolio barriers and making high-quality advice available to those who had previously been overlooked.

A service for everyone 

By removing restrictive minimum portfolio sizes and opening Essentials up to the wider market – not just existing clients – we’ve made professional financial planning accessible by tailoring the costs, relative to what clients need. It means anyone ready to take charge of their financial future now has a straightforward, supportive way to get started. Ben Harrison, a Chartered Financial Planner at Equilibrium and a recent honouree in the Citywire Top 35 NextGen Advisers, is the driving force behind the initiative. 

With recent personal experience as a first-time homebuyer and someone newly engaged, Ben understands the challenges facing clients at the start of their financial journey. “It’s often those at the early stages or with simple needs where you can make the biggest impact,” Ben says. “A small change in your 20s or 30s, like tweaking your pension, could mean retiring years earlier or with a much larger fund.” 

More than robo-advice 

While AI and robo-advisers offer quick, low-cost investment options, they often miss the bigger picture. Essentials is different. We take the time to understand your full financial landscape both now and for the future. There’s no pressure and no financial commitment in the initial meetings as we get to know you, explain simply where we can add value, and build a long-term plan together. It is only when everyone’s comfortable that we move forward. When you’re ready to proceed, we deliver a detailed report and clear recommendations and then help you put your strategy into action. 

Looking ahead 

The response to Essentials over the past two years has been truly remarkable, with more than 300 clients now benefiting from the service. This incredible momentum has driven the expansion of our adviser team: Grace Burgin brings fresh expertise, combining her experience as an adviser and as a new business Client Manager at Equilibrium. Alongside Ben and Grace, we’ve also recently recruited a third adviser to ensure we maintain the exceptional standard of service our clients expect. 

A service designed for today and built for tomorrow 

Equilibrium Essentials is more than a financial planning package; it’s our commitment to making expert advice truly inclusive and refreshingly simple. With annual reviews, access to advisers, and clear, transparent fees, Essentials empowers you to take charge of your financial future without the burden of complexity truly making lives better. 

(1) NextWealth study 2024