The twice-yearly survey also asked advisers how they saw the future of the industry, what the most frequent concerns raised by clients were in the past year, and how advisers planned to engage with customers in the months and weeks ahead. 

Of the 300 respondents, nearly all said they felt positive about their professional future, with just three per cent saying they felt pessimistic, according to SimplyBiz. 

Topping the list of perceived opportunities was the chance to bolster customer engagement. While face-to-face meetings remained a key tool for advisers, SimplyBiz said it was clear from the survey results that digital services such as video conferencing and digital marketing have played a growing role in strengthening efficiencies.

In terms of client needs, retirement planning and the effects of the pandemic on their investments were the hottest topics, followed by intergenerational advice and wider estate planning.

A majority of the firms — 75 per cent — said they had seen an increase in client bank during the past 12 months and many said they expected that growth to continue this year.

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Richard Ardron, marketing director of SimplyBiz, said: “The insight from this type of research is invaluable ito help us understand both the current shape of the advice market and as an indication of the future direction of travel.”

“We often talk about the resilience of the adviser community”, he said, “and never has this been put to the test more definitively than during the Covid-19 pandemic.  The most important overall message from the survey is that we can see the value of advice has never been clearer to consumers, and all indications suggest a bright future ahead for the sector.”