The results of a widespread global adviser/broker survey* into the real-time affect of the ongoing global pandemic, undertaken by international financial services company Hansard, has been launched today.
International Investment can reveal that the first-of-its-kind survey - launched seven weeks into the covid-19 ‘lockdown', with Hansard's database of 1,000 financial advisers - while lifting the lid on the real adviser covid-19 concerns, has highlighted a greater reliance on technology and produced some encouraging new initiatives.
The survey, which was sent to more than 1,000 advisers and brokers, found that globally the majority of advisers had not reduced annual sales targets downwards due to the pandemic, with some regions even seeing a marked increase in expected new business for 2020.
The survey asked a series of simple questions, with a focus on determining a feel for; adviser optimism for a return to normality, the impact of the pandemic on sales targets, advisers' focus to generate new business and the role of technology during and after the pandemic.
The survey was translated into multiple languages, covering countries across the world, making up Hansard's four broad markets of Latin America, Middle East & Africa, Rest of the World & Far East.
Globally the survey found that advisers in all regions were more likely to keep the same targets for 2020 or increase targets than they were likely to reduce targets, see graph above.
Regionally advisers had varying results towards new business sentiment, with the Rest of the Word (67% the same and 16% increased) and Middle East & Africa (58% the same, 14% upwards), Asia (69% the same, 6% upwards) and Latin America (44% the same, 8% upwards). Latin America was most likely to reduce targets (48%) with MENA (28%), Asia (25%) and RoW (17%).
When asked how long it would be before being able to return to holding face-to-face meetings with new and existing clients, the results varied regionally.
Advisers in the Middle East & Africa region were least optimistic, with 35% expecting an additional three months return to normality, with 22% ‘not knowing' versus a global average of just 18%.
Asia was the most optimistic region, with almost 70% hoping to be back meeting their clients face-to-face within the next month, the survey found.
Hansard said that the survey was produced as "a means to maintain contact with supporting advisers during a time of peculiar uncertainty, but also to gather information that will inform future development in our award-winning customer service & tech proposition".
Further highlights of the survey, including an exclusive video interview with Hansard's Global Sales and Marketing Director Graham Morrall will be revealed in tomorrow's International Investment main new bulletin at noon (UK time).
*Surveys were completed over a two week period, up to w/c 25 May 2020.