Advisers have remained resilient during the coronavirus crisis and more than two-thirds expect business to return to usual within three months.

According to research from Royal London, feedback from 96 advisers in April found more than two-thirds (67%) said they expected to see business return to usual within three months of the “end of Covid-19”.

While demand for new business has dipped, advisers said they are spending more time speaking with their current clients.

Six in 10 advisers have experienced inbound contact from clients increase by 25%, with demand for reassurance on investments, information on furlough, self-employment and payment deferrals.

Demand has also grown for protection products, and Royal London said mortgage advisers are beginning to explore protection-related business opportunities as the housing market is subdued.

Separate research from Aegon suggested advisers have reasons to remain confident, as the coronavirus has led to one in 25 seeking financial advice for the first time.

Royal London distribution director Tom Dunbar said: “Seeing advisers keeping calm and staying resilience in the face of Covid-19 is good news for the industry. While many will face challenges in the months ahead, it’s clear that the marketplace for impartial advice remain buoyant with advisers looking for opportunities such as within the protection market.”

This article was previously published on Professionaladviser.com

Further reading

Advisers can defer CPD this year in ‘exceptional circumstances’ – FCA