Just under a third (31%) of financial advisers believe that stagnant or negative UK GDP growth will be the biggest challenge to investment growth in 2013, according to the latest Barings Investment Barometer.
The study explores attitudes towards the current economic environment and major asset classes. The concern over GDP growth is up by 11% since September's barometer.
The number of intermediaries predicting that the UK will experience inflation over the next three years has also increased significantly to 55%, up by 12% from three months ago.
Four fifths (80%) of financial advisers said their clients were concerned about the impact that this would have on their cash investments.
Elsewhere, the biggest falls in concern were in relation to the eurozone crisis and slowing growth in China, decreasing by 12% (down from 89% to 77%) and 16% (down from 53% to 37%) respectively.
Rod Aldridge, head of UK Retail Distribution at Barings, said: "As we enter 2013, macro-economic concerns continue to be at the forefront of financial advisers' minds, with the UK economy proving one of the biggest challenges.
"This is understandable, with economic predictions suggesting that the year ahead could be testing. In October the International Monetary Fund suggested a sombre outlook with the European economy ex-UK barely expected to grow at all with just 0.2% growth forecast over 2013. The UK economy is expected to do slightly better at 1.1%, but this is still far lower than we would like."
Managing market volatility is key in the current markets, and diversification of assets remains the most popular method of doing this, favoured by 71% of intermediaries, according to the Barings study.
There has been a significant increase in the number of advisers looking to identify growth opportunities, up 11% since September from 38% to 49%.
Other strategies preferred by financial advisers include encouraging more regular reviews of investment portfolios (up by 7% from 47% to 54%), while just over a quarter (28%) are looking to multi asset products to manage volatility.
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