One in three (32%) financial adviser clients have signed up in the past two years, Investec Wealth and Investment (UK) research has found.
The researchers also found 10% had signed up within just the past 12 months.
The figures indicate an uptick in the numbers seeking financial advice following the pandemic, and may also suggest a degree of client churn.
The survey found one in three (31%) people with stockmarket investments or pensions are currently working with a financial adviser.
Researchers also identified a high degree of satisfaction with the service received, with 88% of adviser clients taking part rating it as ‘excellent’ or ‘good’.
In terms of age, nearly half of those surveyed started using an adviser when they were 40 or over (46%), while most (56%) said they wish they had started earlier.
Around 62% of the clients questioned estimate they have investible assets worth up to £250,000, while 14% have more than £500,000, and around one in 20 (5%) estimated worth of more than £1m.
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Simon Taylor, head of strategic partnerships at Investec Wealth & Investment (UK), said: “The financial advice sector is in rude health given the numbers of new clients joining in the past two years and the fact that the vast majority of clients very much appreciate the service they receive.
“The only issue appears to be that most clients wish they had started working with an adviser earlier plus there are indications that many clients struggle to find an adviser who has the time to help them or who they think is suitable.”
