Demand for face-to-face financial advice 'remains strong'

Two thirds feel robo-advice won’t meet their needs

Adam Saville
clock • 1 min read

Covid-19 is driving demand for advice and has not diminished popularity of face-to-face support, research from Openwork has suggested.

Nearly one in five (17%) adults said they are now more likely to seek financial advice in the wake of economic hit from Covid-19 rising to nearly one in four (23%) among under-35s, according to new research from advice firm Openwork. Around a third (29%) said the pandemic has knocked their financial planning off course. Nearly two-thirds (63%) still want face-to-face support, despite lockdown and ongoing social distancing measures, while 66% were concerned that robo-advice will not meet their needs. Just under half (44%) said they would benefit from some form of financial advice, risi...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Considering client emotions: Dealing with post-Budget anxiety

Considering client emotions: Dealing with post-Budget anxiety

Advisers need to understand client emotions during 'turbulent times'

Isabel Baxter
clock 01 November 2024 • 4 min read
Well-trailed Autumn Budget 'not as dramatic as expected'

Well-trailed Autumn Budget 'not as dramatic as expected'

Although speculation around pensions tax-free cash was ‘unhelpful’

Isabel Baxter
clock 01 November 2024 • 4 min read
Feel Good Friday: Succession Wealth raises £30,000 for cancer charity

Feel Good Friday: Succession Wealth raises £30,000 for cancer charity

Wealth firm hosts its annual charity golf tournament

Professional Adviser
clock 01 November 2024 • 1 min read