A majority of clients working with independent financial advisers (IFAs) are anxious about the upcoming Budget, a new survey from Opinium has suggested.

The research revealed that 87% of clients are concerned about the potential announcements, with 47% expressing significant unease.

Speculation surrounding the first Labour Budget has created widespread uncertainty, prompting many to seek clarity on possible changes to their financial future.

According to Opinium’s findings, based on an online survey among 200 financial advisers, clients’ top concerns include the possible scrapping of the 25% tax-free lump sum accessible at the age of 55 (70%), changes to capital gains tax rates (44%) or inheritance tax (47%), and potential pension reforms (54%).

The anxiety surrounding these areas has led to an increase in requests for advice (50%), as individuals seek reassurance on how to prepare for potential changes to the financial landscape.

“Speculation has been rife ahead of the Labour Budget, their first in 14 years, and understandably this is making clients anxious about what could be announced,” said global head of financial services research at Opinium, Alexa Nightingale.

“With widespread concern, IFAs are gearing up to guide their clients through the Budget’s aftermath, offering tailored advice to protect their financial wellbeing and help reduce financial anxiety. Clients are encouraged to stay proactive, consult with their advisers, and prepare for the impact of any potential policy shifts.”

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