One third of advisers say election is major concern for business

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One third of advisers say the General Election and the following months are a major concern for their businesses.

Research conducted by MetLife shows 33 per cent of advisers are most worried about the fallout from the election, compared to 27 per cent who are concerned about the Brexit negotiations.

Furthermore 28 per cent of advisers say the election is preventing clients from making decisions.

The majority of advisers (53 per cent) back the Conservatives in hope of improving pensions, savings and financial advice, compared to 21 per cent who support Labour.

However top of advisers’ lists for legislative changes are the abolition of the lifetime allowance on pension payouts (34 per cent) and scrapping the annual allowance on contributions (31 per cent).

Richard Evans, intermediary development manager at MetLife UK says: “It is clear that the election is adding to the general uncertainty which is affecting long-term planning and complicating long-term decision making as clients react to the ups and downs of opinion polls and their impact on investment markets.

“Equity markets have remained robust but there is a growing concern that volatility will return, particularly as the EU exit negotiations start in earnest following the General Election result, whatever the outcome.”