Some 79% of the advisers asked in Q1 this year also said they were still concerned about the forthcoming changes that the Mortgage Market Review and Retail Distribution Review may bring and are looking for advice and guidance.
More than half (57%) have still not made any preparations, which may suggest that advisers remain unsure as to the full implications and requirements.
Stephen Smith, director of housing and external affairs for Legal & General network said: “Adviser confidence seems to have returned and the mood is far more positive for this year. Interest rates were held again this month but over half of advisers now feel that there will be a Monetary Policy Committee rate change at some point this year.”
Over half of advisers (55%) feel that house prices will continue to fall slightly but buy-to-let business is looking positive and 56% of advisers think that business levels will improve by up to 10%.
Most advisers (95%) also think that protection sales will stay the same or improve over the next quarter.
Smith added: “It is clear that advisers although positive have a number of reservations, not least about the impact of the new regulation. Product providers and networks have a key role to play in helping advisers through this transition period with relevant training, support and information. I hope that advisers will remain confident and that the year proves to be a successful one.”
