Adviser confidence soaring

Some 86% of financial advisers are more confident in the prospects for their firm compared to a year ago, while 71% have a more optimistic outlook for the wider financial services industry.

The research was carried out by NMG Consulting for Bankhall, a supplier of support services.

Stephen Gazard, SBG managing director, said: “The financial advisory community has been through considerable change in recent years, but this research reinforces our view that confidence within the profession is growing.”

Advisers’ are warming to the Retail Distribution Review, with three in five having a positive outlook compared to four in 10 when it was introduced last year.

Gazard added: “The fact that, according to our survey, only a small percentage of clients reacted negatively to the RDR will have provided advisers with a much needed boost.

“Many firms have been investing considerable time and energy in their businesses and it is good to see this hard work being reflected in a more positive outlook. Many advisory firms are now more robust and sustainable, which bodes well for the future.”

When asked how RDR impacted protection business, 8% of advisers said there had been an increase, while 86% said they had seen little impact on the amount of protection business written.