Four out of 10 financial advisers have reported their clients did not have to adapt or change their financial plans due to Covid-19.
A social media survey of 45 PFS members in September showed only 5% of advisers had a client who struggled with loan repayments as a result of the economic impact of Covid-19.
Some 27% of those polled revealed their clients had reduced the amount they are saving and spending due to concerns about the impact of Covid-19 on their finances, and three out of 10 (29%) stated their clients were saving more cash during lockdown.
Keith Richards, CEO of the PFS, said: “In October, we celebrated World Financial Planning Day and the fact four out of 10 advisers have yet to see the need to adapt or change client plans is testament to the value and importance of professional support.
“However, we still find ourselves very much in the middle of this pandemic, with more financial impacts to come for many individuals.”
