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23 January 2015

The majority of financial advisers are optimistic about the outlook for the UK economy in 2015, according to new research from the Association of Professional Financial Advisers (APFA). The figures, compiled by NMG Consulting, reveal that more than half (55%) of financial advisers are optimistic about the outlook for the economy while just one in seven advisers (14%) describe their outlook as pessimistic.

 

Financial advisers also believe the positive economy will translate into growth in their business, with more than two-thirds (69%) expecting an increase in client numbers in 2015, compared to just 10% expecting their number of clients to fall.

 

Chris Hannant, Director General of APFA, said:

“Financial advisers are looking to 2015 with a sense of optimism. The economy has been in good shape in 2014, and 2015 will bring a number of opportunities for financial advisers with reforms to pensions and long term care starting in April. 

 

“However, there are issues which need addressing. There is still uncertainty around the pension guidance guarantee, and how the hand-off to professional financial advice post-April will work. Members also remain concerned about the burden of reporting and regulatory fees, as well as their exposure to liability with the lack of a long stop.

 

“APFA will continue to work with our members and the FCA to ensure the voice of the financial advice profession is heard in 2015.”

 

ENDS