Six in ten Financial Planners are struggling with heavy workloads, identifying them as the greatest cause of work-related pressure, according to a new report.

The second biggest cause of work-related stress for Financial Planners was regulation.

One in five of the Financial Planners surveyed by the Personal Finance Society (PFS) in March said red tape was causing them headaches.

One in ten of the 425 Financial Planners who responded to the survey felt client demands was the greatest cause of stress, and 8% said limited development opportunities in recent times was the main source of pressure.

Mark Hutchinson, membership director of the Personal Finance Society, said: “The pressures of the pandemic, regulation and the evolving client expectations has amplified stress among financial planners in recent years.

“Financial Planners help their clients take control of their income, expenses and investments so that they can achieve their goals. As a result, while working in the Financial Planning profession is incredibly rewarding it can also be stressful.

“If you're stressed, whether by your job or something more personal, the first step to feeling better is to identify the cause and the Personal Finance Society is committed to helping members do so and show them ways to take action to improve their wellbeing.

“Balancing everyday life together with the requirements of work and home can create pressures for all of us, which is why the Personal Finance Society partnered with Health Assured, the UK and Ireland's largest award-winning employee assistance programme (EAP) provider, to bring our members a comprehensive and trusted wellbeing service.”

The PFS is encouraging members to access, at no additional cost, its My Healthy Advantage smartphone app.

The app provides a library of wellbeing resources including videos, guides, and webinars on a range of topics to support mental, physical and financial wellbeing.

The PFS is also pushing Financial Planners towards its partnership with Health Assured, through which all CII members can access a free 24/7, 365 days a year confidential helpline.