Advisers seeing clients withdraw funds due to uncertain economy

Clients wish to ‘plug the financial shortfall’ amid the cost of living crisis

Isabel Baxter
clock • 1 min read

Financial advisers are seeing significant changes in client behaviours as the UK’s economic outlook remains uncertain, according to a survey by AKG sponsored by Standard Life.

As the cost of living crisis persists, the research suggested that financial advisers are seeing many clients withdrawing funds to "plug the shortfall" or opting for a more cautious approach to their finances.  Close to half (46%) of advisers have noticed clients withdrawing more funds to cover essential bills and address immediate income shortfalls. Even those who may not be immediately struggling have still reassessed their approach, the research showed. Over a third (35%) of advisers have seen clients deviating from previously set plans by withdrawing money. Clients are increasi...

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