When asked to what extent advisers either agreed or disagreed that the credit crunch will mean their clients will view them with the same distrust they have come to view other financial institutions, an unequivocal 91% said that they either disagreed or strongly disagreed with the statement. While a mere 5% either agreed or strongly agreed.
An equally strong reaction came in response to being asked if the credit crunch will mean clients will value their service more, with 86% of advisers either agreeing or strongly agreeing with the statement. Four per cent either disagree or strongly disagreed.
The findings form part of a 112 strong independent financial adviser survey conducted at the annual Sesame Symposium, now in its second year.
In 2007 advisers were asked whether they believed there would be a strong demand for financial advice over the next 12 months. Back then 66% of advisers said yes. This latest survey reveals a slight drop in that confidence, with 57% agreeing this time round. In the current market climate this is nonetheless an encouragingly high percentage, says Sesame sales and marketing director Stephen Young.
Further optimism was revealed when the advisers were asked what lasting impact the credit crunch would have on the relationship with their clients. Sixty-one per cent said that it would cause short-term problems but the relationship would remain strong.
A fact that will be bolstered by additional findings that showed 70% of advisers are actively reviewing the type of service they offer clients - down slightly from the 2007 findings of 75%.
