Demand for financial advice is up by almost a quarter, according to deVere Group, one of the world’s largest independent financial advisory organisations, operating in 100 countries.

It found that the number of enquiries from new clients was up 24% in April, compared to the previous month, as individuals, households and businesses readjust and look ahead to recovery.

Nigel Green, founder and chief executive of deVere Group, said: “With financial matters back in sharp focus, for many ‘I should have’ becomes ‘I need to have.’

“This most unusual situation has dramatically underscored that no-one really knows what is around the corner. Now more than ever people are seeking to be as financially prepared as they can for any eventuality.”

Video advice rising in popularity

In a poll carried out by deVere with existing and prospective clients, 52% said they preferred ‘face-to-face’ advice, 42% said they prefer videocall platforms like Zoom, and 6% answered ‘by telephone.’

Green added: “Given the circumstances and how much things have changed, I quite was surprised that the preferred option for the delivery of financial advice remains face-to-face.

“But video communication is only 10% behind, which is quite something as it is a new platform for most people.

“The survey underscores that increasingly people want bespoke financial advice combined with innovative technology.”