Global economic uncertainty is fuelling significant growth in demand for financial advice from worried clients, according to a survey of nearly 200 UK financial advisers.

Some 55% of advisers say they seeing more clients seeking advice, according to the survey for savings fintech Flagstone.

One in three advisers say demand for ongoing (rather than ad hoc) advice is higher than before the Budget.

The company says turmoil caused by the Trump tariffs in the US, and the fallout from Chancellor Rachel Reeves' first Budget in October, are spurring “higher demand” for advice from existing and prospective clients. 

Frightened clients are mainly seeking professional advice to reassure them that their finances are in order against a backdrop of upheaval, says Flagstone.

Key findings from the survey:

• 53% of advisers polled are seeing more demand for additional services from existing clients
• 55% are seeing more demand for advice from new clients
• 33% say demand for ongoing advice (as opposed to ad hoc) is higher than before the Budget
• 60% say clients value their advice ‘more than ever’

Asked about the reason for the rise in advice demand, two fifths (41%) of advisers said that the tax changes and rumours of the last few months are creating confusion. Two thirds of advisers (67%) see an opportunity to provide much-needed clarity and reassurance.

The planned tax changes to IHT, in particular, has pushed up demand for advice. Almost all (92%) of advisers say clients’ biggest preoccupation is with inheritance tax on pensions. Ms Reeves announced plans in the Budget to add pensions to the IHT tax net from 2027.

A third (32%) of advisers say concerns about the future of Cash ISAs are also high among clients. 

Claire Jones, head of strategic partnerships at Flagstone, said: “Access to common-sense, plain English financial advice is needed more than ever. The government is making good on its pledge to increase the tax burden for higher earners around the country, and changes to tax policy are heavily trailed before being formally announced.

“With the Treasury not providing more clarity on these topics, this can give rise to concerns and confusion. The more front-footed advisers can be in the face of financial uncertainty and fears, the greater they deliver on their worth and value to clients, many of whom will stay with them for the duration of their careers.”

Flagstone is a fintech providing access to over 220 savings accounts from 66 UK savings providers.

• Flagstone commissioned a survey of 198 UK financial advisers in March.