Your IndustryAug 30 2016

Most advisers expect jump in clients post Brexit vote

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Most advisers expect jump in clients post Brexit vote

More than half of financial advisers are expecting an increase in the number of clients seeking Brexit-related financial advice, according to research from Prudential.

The results suggested 37 per cent of advisers expected to see an increase in demand from existing clients, while a further 16 per cent expected to sign up new clients as a direct result of June’s referendum.

Paul Harrison, head of Prudential’s business consultancy for advisers, said: “Advisers are embracing the opportunities of Brexit and expect an increase in the number of clients – both existing and brand new ones – who are looking for Brexit-specific financial planning advice.

“This underlines the fact that the result has triggered uncertainty when it comes to financial planning, with people realising their best port of call in uncertain times is often to speak to a qualified, reputable financial adviser who can provide as much certainty as possible and get back to the basics of good financial planning.”

The research was carried out online between 29 June and 7 July with responses from 104 financial advisers around the UK.

Its results also revealed four out of 10 of advisers said Brexit would have a long-term positive impact on the UK economy and the future of their business.

A further 42 per cent believed Brexit would present specific opportunities for them and their business.

When it comes to their existing clients, most advisers - 58 per cent - expected them to be concerned about protecting their retirement funds while a further 56 per cent of advisers said their clients would be looking for support on how to reposition their long-term investment plans.

And 54 per cent expected to see an increase in queries relating to drawdown and the effects of volatility on funds.