Client survey results: we asked your views, heard the message, and shared the concerns

Here at Active Chartered Financial Planners we pride ourselves on listening to our clients and recognising any concerns they have.

That’s why, following Chancellor Rachel Reeves’ recent Budget, we conducted a follow-up survey to understand how views have changed since our last survey in September. The feedback was invaluable, and one of our directors, Paul Gibson, shared the results in a letter to the Chancellor to highlight the issues that matter most to our clients.

The changes in confidence since September are quite striking. In our earlier survey, 33% of clients reported a decline in financial confidence. By December, the figure has risen to 45%, with only 12% reporting an increase in confidence.

The inclusion of pensions in inheritance tax calculations stood out as a key feature in the Budget, with 79% of respondents highlighting the change as a concern. Now, many are considering significant changes to their financial planning, with 42% planning to gift assets earlier to reduce estate values and 37% intending to increase spending to avoid IHT.

Business tax changes, particularly to National Insurance, also drew strong reactions. Two-thirds of respondents believe these measures will discourage investment and hinder growth. This is especially concerning for SMEs, which play a crucial role in regional economies like the North East.

While our clients recognise the importance of funding public services, there’s a growing sense that the current approach could unintentionally stifle growth and financial security.

We see our role as not just offering advice, but also ensuring our clients’ voices are part of the wider conversation. Paul’s letter isn’t about demanding immediate changes, but about helping decision-makers understand the real-world impact of policy decisions.

Paul Gibson, our director, commented: “The decline in confidence shown in our recent survey reflects the growing uncertainty people feel about their ability to plan for the future. Changes like including pensions in inheritance tax calculations are a major factor in this.

?“This policy may unintentionally encourage people to use up resources earlier than planned, leaving them less secure in later life while also undermining the intended fiscal benefits for the Treasury.

“It’s important to strike the right balance between securing essential funding and fostering an environment where individuals and businesses can thrive.

?“We’re here to support our clients, not just with their finances, but by advocating for policies that allow them to build and maintain confidence in their financial future.”

If you’re concerned about how these changes could affect your plans, we’re here to help. Get in touch with us on 01642 765957 or email [email protected]

And for regular updates, follow us on socials Facebook, LinkedIn and YouTube

Or ?visit the Active website

Karl Pemberton CDir FIoD Dip PFS Karl Nendick Rachel McCulloch CMgr Andrew Gilmore MBA, FPFS, CMgr FCMI Ruth Conner MCIM