Clients of financial planning firms are increasingly looking for support across retirement, estate planning and intergenerational wealth transfer, according to the latest Financial Planning Growth Index published by the Saltus Partnership Programme and L.E.K. Consulting.
The report, based on a survey of over 200 senior leaders at financial planning firms in the UK, finds that estate planning, including intergenerational wealth transfers, (31%) and retirement (31%) are growing priorities for clients. This is followed by avoiding or mitigating capital gains tax, cited by a quarter (25%) of firms. Consistent with data from November 2024, these findings underline the heightened emphasis clients are placing on long-term priorities.
Alongside this, 5% of firms reported that clients remain focused on cost of living pressures, such as rising school fees. The research, conducted prior to the recent escalation in geopolitical tensions also examined international relocation trends. The majority (53%) of firms have seen clients move abroad in the past 12 months, rising to 60% and 75% among firms based in the South East and Greater London respectively.
Nick Heath, Head of Relationship Management at the Saltus Partnership Programme, said: “In an industry built on longstanding, trusted relationships between advisers and clients, it is crucial firms can meet the changing demands of both prospective and existing clients. Our data presents a clear direction of travel, with the focus on estate planning and retirement showing no sign of slowing. For firms, now is the time to invest in the expertise and tools required to build a comprehensive offering for clients that serves all their needs.”
Bronswe Cheung, Partner at L.E.K. Consulting, said: “The findings suggest that clients remain focused on long-term financial planning despite ongoing policy uncertainty. This is where the industry must focus on: true lifetime planning-led propositions that drive long-term client retention and resilience”
