The Coronavirus pandemic has changed the way that clients want to interact with their financial adviser on a long-term basis, according to a new report.

Over half (56%) of advised investors and savers surveyed are now happier to communicate remotely with their adviser than they were before the first lockdown.

Nearly three-quarters told researchers for provider Abrdn that they want some degree of remote advice from their Financial Planner in the future.

Just over half (51%) said they want a mix of in-person and remote advice.

Only a fifth (20%) of those surveyed by the asset manager wanted only face-to-face interaction with their adviser.

Almost a third (31%) started using remote advice channels for the first time since the UK first entered lockdown in March 2020.

Those surveyed by the asset manager said that the reason they were happier to receive advice remotely was a greater familiarity with digital tools like Teams and Zoom (57%), and the convenience and efficiency they offer (47%).

The largest shift in behaviour was seen among those over the age of 66. Over a quarter (28%) said they had used remote advice channels for the first time, a 200% increase from the 14% who were using them before the pandemic.

Clients were also in more frequent contact with their adviser than before the pandemic.

Over a third (35%) of those surveyed said they now contacted their adviser more frequently than they did before March 2020.

The increased contact was due to more complex financial needs (47%) and a greater appreciation as to the value of advice (56%). The latter of which rose to 61% for clients who said they currently speak to their adviser more than once a month.

Alex Chappell, investment manager at Financial Planning firm DB Wood, said: “We’ve seen our clients embrace the use of technology during the pandemic, and for a lot of them, that is how they want to continue to interact with us. Everyone has different needs and we have always offered an advice service that is flexible and adaptable to individual requirements.

“But there is no doubt more will continue to use technology for the most part when dealing with us. We have also seen that for some, the perfect solution is a combination of face to face and online, though irrespective, we will always offer the service our clients want.

“The upside to more online interaction means we have more time for our clients new and old.”

Sapio surveyed 1,001 investors and savers with a financial adviser in September on behalf of Abrdn.