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Covid has changed advice needs, report finds

“This is a positive step and hopefully other effects of the crisis, such as the increased reliance on technology, will mean this continues in the future.”

At the beginning of lockdown there were concerns that the advice industry would suffer as a result of not being able to meet clients.

However, a survey of 83 advice firms last month revealed a fifth of advisers said new business was now "higher or much higher" amid the crisis - with some reporting growth of more than 30 per cent

These figures supported data collected by the Financial Conduct Authority in June, which found a mere 14 advice firms believed the economic fallout of the coronavirus pandemic threatened the survival of their business.

amy.austin@ft.com

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