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Advisers experience greater engagement post-lockdown

Advisers experience greater engagement post-lockdown

  • 82% of Advisers feel they now have the same, or greater engagement with clients
  • Two in three (59%) expect to see an increase in demand for their services post-pandemic lockdown
  • Managing client expectations is the big challenge ahead

Financial Advisers experienced greater contact with their clients following the COVID-19 pandemic lockdown, according to new dedicated Adviser research by Seneca Investment Managers (‘Seneca IM’). [1]

It comes following a period of market volatility as pandemic worries hit the global stock markets, with concerns abound that worldwide lockdowns and social distancing measures have put pressure on the value of, and the practice of, the traditional advice process.

To the contrary, the majority (82%) of Advisers surveyed found themselves speaking to their clients more so, or no less than before the pandemic lockdown hit the global financial markets, with under a fifth (18%) spending less time with their clients.

The pandemic lockdown has been to blame for much of the volatility experienced by the equity markets that duly caused some investor panic. Many saw their clients affecting retirement plans by reducing their risk exposure (22%) and reassessing their income withdrawal requirements (22%). A fifth (19%) conversely saw their clients increase their risk exposure, while just a tenth (10%) saw no clients affect their retirement plans during or post-UK lockdown.

The biggest challenge, before the pandemic lockdown, and going forward, was managing client expectations for nearly half (46%) of Advisers. A quarter (25%) are braced for the sizeable challenge of maintaining the same level of natural income. Altering asset allocation/rebalancing was also considered a challenge for Advisers to navigate as the year presses ahead. Most striking, was that almost 60% expect to see an increase in their services post the pandemic.

Steve Hunter, Head of Business Development at Seneca Investment Managers, commented: “The rhetoric around the decline of Advisers pre-COVID-19 couldn’t have been more misdirected. On the contrary, the value of good financial advice appears to have increased significantly among those we surveyed. Quality, sound advice at a juncture like this, both socially and economically, cannot come fast enough, and savers and retirees alike appear well engaged with their Advisers. This bodes well for what may well be a challenging few months, or even years ahead for the financial markets”.

 

-ENDS-

Media enquiries to:

 

Newgate Communications

Shelly Durant / Henry Adefope / Henry Taylor

+44 (0) 20 3757 6865

[email protected]

 

NOTES TO EDITORS:

 

  1. Research commissioned by Seneca Investment Managers was conducted by Censuswide amongst 200 advisers between 18.09.2019 – 25.09.2019

About Seneca Investment Managers
Seneca Investment Managers, based in Liverpool with a national coverage, operate a Multi-Asset value approach to investing. Investors in our funds range from institutions such as pension funds and charities, through to financial advisers, discretionary private client managers and personal investors.

Seneca Investment Managers has a heritage stretching back to 2002 and prides itself on the ability to identify and invest where there is both quality and unrealised value.

Past performance should not be seen as an indication of future performance. The value of investments and any income may fluctuate, and investors may not get back the full amount invested.

Seneca Investment Managers Limited (0151 906 2450) is authorised and regulated by the Financial Conduct Authority and is registered in England No. 4325961 with its registered office at 10th Floor, Horton House, Exchange Flags, Liverpool, L2 3YL. FP20 245.

[1] Research commissioned by Seneca Investment Managers was conducted by Censuswide amongst 200 advisers between 01.08.2020 – 07.08.2020

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