Legal & General Adviser Confidence Index Quarter One 2011.
10 May 2011
Stephen Smith, Director of Housing & External Affairs for Legal & General Network said, "Adviser confidence seems to have returned and the mood is far more positive for this year. Over 95% are saying that their business volumes will stay the same or improve in 2011. It is encouraging that only 5% think they will get worse.
Additional questions have been added to the index for 2011 to gauge adviser views on current topics such as impending regulation. They show that 79% are still concerned about the forthcoming changes that MMR and RDR may bring and are looking for advice and guidance. 57% have still not made any preparations, which may suggest that advisers remain unsure as to the full implications and requirements.
Interest rates were held again this month but over half of advisers now feel that there will be an MPC rate change at some point this year.
WIth the housing market still fragile, over half of advisers, 55% feel that house prices will continue to fall slightly but Buy-to-Let business is looking positive and 56% of advisers think that business levels will improve by up to 10%. 95% also think that protection sales will stay the same or improve over the next quarter.
Stephen Smith continued, "it is clear that advisers although positive have a number of reservations, not least about the impact of the new regulation. Product providers and Networks have a clear role to play in helping advisers through this transition period with relevant training, support and information. I hope that advisers will remain confident and that the year proves to be a successful one."
For more information please contact:
PR Manager, Legal & General Group
t: +44 (0) 20 3124 2092
m: +44 (0) 7764 582574
About Legal & General
Legal & General Group Plc.
One Coleman Street
Registered in England. Registered Number: 1417162.
Legal & General Group Plc is a holding company, subsidiary undertakings of which are fully authorised as appropriate under the Financial Services and Markets Act in respect of their investment activities in the UK.
© Legal & General Group Plc 2011