Two in five, 40%, IFAs expect the FCA’s advice guidance boundary review to boost demand for their services.

They reckon easier access to personalised guidance will drive demand.

According to new data from Opinium’s IFA Barometer, IFAs think the review will bring positive changes for clients, such as increasing interest in investing (38%) and boosting confidence in managing finances (36%).

A third, 33%, think it will encourage clients to move money into investments while more than two-fifths, 43%, think it will help clients to better plan their financial futures.

Just 10% feel the proposed changes will result in a decrease in demand for advice, while 43% don’t expect to see any change.

IFAs are less optimistic that the review will increase appetite for more complex investments, with just 23% expecting clients to consider more sophisticated investments, according to the study, while a third, 33%, disagreeing. Similarly, 21% think that it will encourage clients to take more risks with their investments with 32% disagreeing.

Alexa Nightingale, global head of financial services research at Opinium, said: “Given the potential that client demand and engagement will increase, it’s no surprise that our latest data shows that IFAs are largely positive about the advice guidance boundary review. Advisers expect more people to seek help navigating their financial choices, which is undoubtedly positive for both them and clients.

"However, many are cautious about whether clients will embrace more sophisticated investment options as a result. Once the AGBR recommendations are finalised and implemented, it will be interesting to see whether these expectations play out.”

The FCA’s latest consultation on the advice guidance boundary review closes this month. It has asked for comments on its proposals by 29 August. It said it aims to publish a policy statement by the end of 2025, though that depends on the extent of feedback it gets to the consultation.

The FCA is expecting to have spent more than £5.5m on its advice guidance boundary review by April 2026.

In its final fees update for 2025/26, the regulator shared that it had spent £1.9m on the review in 2024/25. It expects to spend around £3.7m more on the advice guidance boundary review this year (2025/26), taking total costs to around £5.6m.

• Opinium carried out an online survey of 200 UK Independent Financial Advisers between 23 June and 4 July.