IFAs favour Tory victory; fear election aftermath

Added 5th June 2017

Advisers favour a Conservative victory in the UK general election as nearly one in three say uncertainty over the result and its aftermath are a major concern for their business, research from MetLife shows.

IFAs favour Tory victory; fear election aftermath

UK-based advisers are more concerned about the potential election aftermath (33%) than the negotiations over the UK’s exit from the EU (27%).  

The Conservatives offer the most compelling vision for improving pensions, savings and financial advice, advisers told MetLife.

More than half (53%) of respondents are backing the Tories compared with just 21% supporting Labour.

However, few of the key changes advisers would like to see come out of the election are likely to be implemented under a Conservative government.

Around 34% of advisers want to see the Lifetime Allowance abolished, while 31% want the Annual Allowance scrapped, the nationwide study shows.

Just over one in 10 want the pensions triple lock maintained.

It’s not just advisers feeling the growing uncertainty, with more than a quarter (28%) saying their clients are putting off making decisions ahead of the election result.

Richard Evans, intermediary development manager at MetLife UK said: “Advisers may have hoped that political and economic uncertainty would have eased following the triggering of Article 50 but that was rapidly followed by the launch of a general election."

 

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Kirsten Hastings

Senior Reporter

Kirsten is a senior reporter for International Adviser, covering global news stories about the financial services industry. She joined Last Word Media in October 2015 after two years working as a reporter covering the staffing and recruitment industry. Kirsten has a Masters in Financial Journalism from the University of Stirling. 

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