Covid-19 pandemic hits advice sector as planners report 20% revenue drop - research

The Personal Finance Society's (PFS) and Next Wealth research found small firms with two to five employees have been hit hardest by the pandemic, with 83% of small firms reporting a decline in gross revenue. Despite the decline, financial planners reported customer numbers were up year on year, with nearly half (45%) of planners saying they were working with more clients this year than last, and 44% reporting new client enquiries are picking up. Just 5% of respondents reported a decline in client numbers year on year. The research was based on the answers of 365 PFS members surveye...