The majority of independent financial advisers (IFAs) have reported that clients are anxious about the upcoming Budget, according to a recent survey from Opinium.
The research found that 87% of IFAs said their clients had expressed concern over potential announcements, with nearly half (47%) saying clients showed significant unease.
Clients’ top concerns included the potential removal of the 25% tax-free lump sum available at age 55 (70%), changes to Capital Gains Tax rates (44%), Inheritance Tax (47%), and possible pension reforms (54%).
This anxiety increased requests for advice, with 50% saying clients sought guidance on how to prepare for potential changes.
Alexa Nightingale, global head of financial services research at Opinium, said: “Speculation has been rife ahead of the Labour Budget, their first in 14 years, and understandably this is making clients anxious about what could be announced.
“With widespread concern, IFAs are gearing up to guide their clients through the Budget’s aftermath, offering tailored advice to protect their financial wellbeing and help reduce financial anxiety.
“Clients are encouraged to stay proactive, consult with their advisers, and prepare for the impact of any potential policy shifts.”
