The findings, part of Royal London’s annual Meaning of Value research, reveal that 81% of advisers have seen clients become more anxious as speculation mounts about potential tax and pension changes. Around one in six (16%) say some clients have already taken irreversible financial actions in response to rumours, while only 3% report that their clients are unaware of the speculation.
Despite the uncertainty, most advisers are encouraging clients to focus on long-term goals rather than short-term headlines. Two-fifths (40%) are proactively reassuring clients to stay the course, and 30% are choosing to respond only when approached. Another 16% are taking a more personalised approach by reaching out directly, while 9% are monitoring developments closely and may adjust plans where needed.
However, the depth and frequency of speculation this year appear to be creating unnecessary panic. Eight in ten advisers said the uncertainty has led to more clients reaching out for reassurance, and some believe the noise is damaging enough to push clients into unwise financial moves.
Royal London’s Meaning of Value research explores the real-world impact of financial advice, underscoring the importance of trusted relationships and steady guidance during periods of uncertainty such as Budget speculation.
Jamie Jenkins, director of policy at Royal London, said: “It’s clear that when it comes to financial advice, managing client anxiety comes with the territory and is a key element of the value delivered by advisers. It also underlines the value advisers bring by guiding clients through uncertainty, reinforcing the importance of steady, long-term planning.
“The research highlights the variety of responses from advisers, with some proactively reassuring clients, others only responding when approached, and a minority considering pre-emptive adjustments to financial plans. While the majority see only a limited rise in client concern, speculation this year is clearly prompting distress among some clients, with a few taking actions that could harm their longer-term goals.”
