#VoiceoftheAdviser2016: Financial Advisers Are Generally Optimistic But Worried About FAMR

Every year we email the UK universe of financial advisers to get their views on the advice market and sustainable investment. 348 financial advisers completed the sixth annual Voice of the Adviser survey over a seven-week period. This year they’re a pretty optimistic bunch.

Advisers are optimistic about their business for 2016.

The Financial Advice Market Review is examining the advice gap for those people who want to work hard, do the right thing and get on in life but do not have significant wealth. It will also look at the regulatory or other barriers firms may face in giving advice and how to overcome them. It is considering how to give firms the regulatory clarity and create the right environment for them to innovate and grow. It will explore the opportunities and challenges presented by new and emerging technologies to provide cost effective, efficient and user friendly advice services. And finally, it is looking how to encourage a healthy demand side for financial advice, including addressing barriers which put consumers off seeking advice.

More advisers see the financial advice market review as harmful as beneficial. 74% expect the number of clients they will work with will increase in the next 12 months.

Surprisingly 60% of advisers have had clients speak to them about alternative investing options such as crowdfunding.