UK-based advisers are more concerned about the potential election aftermath (33%) than the negotiations over the UK’s exit from the EU (27%).
The Conservatives offer the most compelling vision for improving pensions, savings and financial advice, advisers told MetLife.
More than half (53%) of respondents are backing the Tories compared with just 21% supporting Labour.
Unlikely changes
However, few of the key changes advisers would like to see come out of the election are likely to be implemented under a Conservative government.
Around 34% of advisers want to see the Lifetime Allowance abolished, while 31% want the Annual Allowance scrapped, the nationwide study shows.
Just over one in 10 want the pensions triple lock maintained.
It’s not just advisers feeling the growing uncertainty, with more than a quarter (28%) saying their clients are putting off making decisions ahead of the election result.
No sign of uncertainty easing
Richard Evans, intermediary development manager at MetLife UK said: “Advisers may have hoped that political and economic uncertainty would have eased following the triggering of Article 50 but that was rapidly followed by the launch of a general election.
“It is clear that the election is adding to the general uncertainty, which is affecting long-term planning and complicating long-term decision making as clients react to the ups and downs of opinion polls and their impact on investment markets.
“Equity markets have remained robust but there is a growing concern that volatility will return, particularly as the EU exit negotiations start in earnest following the general election result, whatever the outcome.”
