According to research from Unbiased Pro, only 2% of financial advisers show confidence in the government’s economic policy agenda.
It comes as speculation and pressure mount for the upcoming Autumn Budget on 26 November.
Approximately a quarter said new Budget policies are the biggest economic challenge facing their clients, with only tax uncertainty ranking higher, at 43%.
Nearly a fifth said Autumn Budget announcements would increase complexity or compliance in their role, and only 13% said this would create new opportunities for advice and growth.
Nearly a quarter of advisers said tax-free pension withdrawals and tax release would have the biggest impact on their clients.
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This was followed by inheritance tax at 22%, property taxes and National Insurance at 17% and wealth tax at 14%.
Capital gains tax (CGT) and salary sacrifice were cited by 8% and 6% of advisers respectively.
The report noted that over a third of customers were worried about tax planning, while 28% were concerned about retirement planning and pensions.
Only 24% were worried about the property and housing market, with 6% pointing to investment performance and 5% to cash savings and ISAs.
Matt Cockayne, chief revenue officer at Unbiased Pro, said: “Advisers are clearly bracing for impact ahead of the Autumn Budget, with many anticipating increased complexity and compliance demands.
“While confidence in the government’s economic agenda remains low, advisers continue to play a vital role in helping clients navigate uncertainty. Their preparedness and resilience underscore the importance of accessible, high-quality financial advice, especially in times of change.
“At Unbiased, we’re committed to helping advisers connect with more consumers, faster, so they can focus on what they do best: delivering trusted, high-quality advice.”
