Advisers predict increase in clients and turnover over the next 12 months

A further 62% of advisers surveyed expect their gross turnover to increase over the next year compared to the year just gone and only 5% of respondents expect it to decrease ‘significantly’.

Similarly, 63% of advisers expect their number of new fee-paying clients to increase over the next 12 months, with a further 23% believing that they expect client numbers to stay the same.

More generally, most advisers are fairly confident (with a weighted average score of 7.0 out of 10) that the outlook for the UK economy over the next year will encourage clients to seek financial advice.

The same number are confident that the outlook for the UK economy over the next 12 months will encourage clients to make investments.

However, advisers were split on whether the outlook for the UK economy over the next 12 months will encourage clients to borrow money, with a weighted average score of 5.0 out of 10.

Gemma Harle, managing director of Quilter Financial Planning, said: “After a difficult year and a half the outlook is looking much brighter for the UK and the economy and its pleasing to see this now being reflected in advisers’ predictions for the future.

“Although the threat of variants still looms, the successful vaccine programme has revealed a future we had not dared to dream about just a few months ago.

“With many new and current clients sitting on significant lockdown savings, or potentially experiencing significant life changes due to redundancy or career change, there is a growing demand for advice to help ensure they make the right financial decisions at the right times.”