According to SimplyBiz’s annual adviser member survey, a quarter of mortgage advisers said that they were unsure about prospects for the coming year and would need to wait to get a clear view.
The report added that nearly 62 per cent of all mortgage advisers surveyed replied that they felt positive.
Approximately 47 per cent of those surveyed said that they had seen an increase in client numbers in the past year, and client bank growth was cited as the top priority for 2024 by most respondents.
Market conditions were the most common topic of adviser-client conversations with 24 per cent taking about effects on investments, 21 per cent discussing interest rates and 20 per cent discussing retirement planning.
Mortgage advisers said that mortgage rates and payments were most often discussed with clients at 32 per cent followed by interest rates at 31 per cent.
Demand for mortgage advisers ‘soars’ post-Covid
Richard Ardron, SimplyBiz’s marketing director, said: “During the challenging times brought about by the Covid pandemic, we saw the demand for, and recognised value of, advice soar. Since then, this increase in demand has continued, as consumers battle with the latest wave of challenges – rising inflation and interest rates, fluctuating markets, the cost of living crisis, and more.
“It’s also been a challenging time for advisers, with the regulatory and administrative demands of running a business increase once again 2023. It’s heartening to see advisers remain resilient and positive about the future, with a clear desire to deliver good outcomes to more clients than ever before.”
