Related topic: Finance News

The research also shows that 67% of consumers are happy with an online-only advice service.

Advisers that have clear and defined profiles for their target clients are more likely to generate new clients from a wider range of channels.

Fewer than 5% of financial advisers have full AI policy, guidelines and sign-off.

The majority liable in 23/24 were likely to be basic rate taxpayers.

Less than 4% feel optimistic about the next six months.

Analysis shows 4.2 million UK women experienced economic abuse from a current or ex-partner in the last year alone.

Inflation is beginning to reduce after remaining at 3.8% for the past three months.

68% of clients view advice as providing good or excellent value for money, a notable rise from 53% three years ago.

Despite financial services performing better than the average in these areas, the research found that a “maturity gap” still exists.

Reeves has “ripped up” proposals to raise the basic and higher income tax rates amid fears it would anger voters.