Most financial advisers (91%) plan to adopt a hybrid advice model - combining in-person and digital engagement - over the next few years, according to a professional body’s poll.

Participants at the recent LIBF webinar – 'Hybrid Advice, will it become the future of advice?' - said it was very likely (52%) or somewhat likely (39%) their company would implement a hybrid advice model.

Just 9% said it was unlikely or not likely.

Many advisers have moved to a hybrid advice model, often delivered remotely, due to the pandemic.

The in-webinar poll of nearly 260 attendees was one of three during the webinar. Other polls found that 45% of advisers were with firms already heading down the hybrid route and 42% believed that hybrid advice would result in more advisers developing their knowledge and skills to a Level 6 qualification.

Advisers questioned said they believed more complex advice requirements would continue to require a human element but simpler advice requirements could be met by a technology-enabled digital solution. 

Webinar panel participant Nick Hall, head of advice at fintech Wealth Wizards, said: “The poll results are very encouraging and reflect the level of traction that hybrid advice is gaining in the financial advice market. 

“Hybrid advice blends the human touch with digitisation and automation, to create an advice experience the customer would want and expect from their advice firm, particularly following the pandemic where familiarity with digital has increased significantly.”

“It’s clear that both advisers and their clients are already on an advancing technological journey and the pandemic has pressed the accelerator on that change.”