Post-Brexit Adviser business booming!

31-Aug-16
Laura Back
UK advisers expect post-Brexit business boom
More than half of financial advisers (53%) in the UK expect an increase in the number of clients specifically seeking Brexit-related financial planning advice, research from Prudential shows.

Of the advisers surveyed, 37% expect to see increased demand for their services from existing clients, with a further 16% expecting to sign up new clients as a direct result of the UK’s decision to leave the European Union.

Four out of ten (40%) advisers believe that Brexit will have a long-term positive impact on the UK economy and the future of their business, while 42% believe that Brexit will present specific opportunities for them and their business.

However, the findings reveal that just under a third (32%) think that quitting the EU will have a long-term negative effect on the economy and their business.
When it comes to their existing clients, most advisers (58%) expect them to be concerned about protecting their retirement funds.

A similar number (56%) say their clients will be looking for support on how to reposition their long-term investment plans, with 54% expecting to see an increase in queries relating to drawdown and the effects of volatility on funds.

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.”