Advisers benefitting from client 'frenzy' after bombshell budget

Statistics follow the unexpected changes to pensions and pensions tax

Hope William-Smith
clock • 2 min read

A frenzy among clients and advisers in the wake of the 2023 Spring Budget means almost half of IFAs have experience an increase in enquires, research shows.

Standard Life today (11 April) said the "bombshell" that was last month's budget has seen 45% of advisers report an increase in enquiries. This percentage rises to 58% for clients with an average portfolio of greater than £200,000. This follows a raft of changes to pensions announced by chancellor Jeremy Hunt four weeks ago, including the removal of the lifetime allowance (LTA) and increases to the annual allowance and the money purchase annual allowance. Around 13% of advised clients will need to have their pension planning adjusted, according to 203 IFA respondents to Standard Life'...

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