Over three-quarters (81%) of Financial Planners surveyed expect their net assets under management to increase over the next year with 62% saying they also expect their gross turnover to increase, according to the survey from Quilter Financial Planning.

Only 5% of Financial Planners surveyed said they expect their gross turnover to decrease significantly.

Most Financial Planners said they were fairly confident that the outlook for the UK economy over the next year will encourage clients to seek financial advice.

Gemma Harle, managing director of Quilter Financial Planning, said: “After a difficult year and a half the outlook is looking much brighter for the UK and the economy, so its pleasing to see this now being reflected in advisers’ predictions for the future.

“With many new and current clients sitting on significant lockdown savings, or potentially experiencing significant life changes due to redundancy or career change, there is a growing demand for advice to help ensure they make the right financial decisions at the right times.”

The Financial Planners surveyed were split on whether the outlook for the UK economy would encourage clients to borrow money over the next 12 months.