Financial security in retirement tops list of clients’ 2024 concerns

Regular contact with our clients is very important to us, so we were keen to hear their thoughts and opinions in our first client survey of 2024.

Sent to 1085 of our clients, our January survey generated more than 100 detailed responses, including:

  • 61 per cent of clients’ top concern this year is financial security in retirement; while 17 per cent fear for their families’ financial futures.
  • 68 per cent say their outlook has been unchanged by improvements in economic indicators, such as falling inflation.
  • 51 per cent think the Bank of England should hold interest rates, while 44 per cent think they should be cut.
  • 63 per cent think the Prime Minister should wait until autumn to hold a general election, with 31 per cent thinking it should be sooner.

The finding’s underscore the critical role that financial planners play in helping clients achieve financial security. By providing expert advice and personalised financial strategies, advisers like the team here at Active can address these concerns and help clients achieve their financial goals, especially when reviewed on a regular, ongoing basis.

According to research by Aegon in 2021, people who seek advice from a financial adviser have more in their pension pot than those who do not. The survey of 10,000 people showed that those who take advice have, on average, £246,000 in their pension pot compared to £95,000 for those who don’t. It also showed that those who take advice reported total non-pension savings of £65,000 compared with just £32,000 for those who did not seek financial advice.

MD, Karl Pemberton said: “Financial security in retirement is a common concern for many people.

“Our role as financial advisers is to provide our clients with the knowledge and tools they need to feel confident about their financial future. Whether it’s planning for retirement, securing their family’s financial future, or understanding the impact of economic indicators and interest rates, we’re here to guide our clients every step of the way.”

The survey results highlight the value of financial advice in providing reassurance and clarity to clients amidst economic uncertainty. By working with a financial adviser, clients can gain a better understanding of their financial situation and make informed decisions that align with their financial goals and risk tolerance.

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“Having been a client of Active for many many years and have always been given great advice and direction. I am now looked after by Andrew. He has given excellent advice and service, continuing on the great work this company has always offered me. Always cheerful and helpful; a great asset to Active. I have no problem recommending him to other people.

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