Wealth manager and Financial Planner Kingswood Holdings has reported a hit to new business from the Coronavirus pandemic but says it is beginning to recover.

The financial damage caused by the Coronavirus pandemic is boosting demand for financial advice - with many consumers wanting face to face advice, according to research from adviser network Openwork.

The Coronavirus pandemic is encouraging more under-55s to seek financial advice.

Mattioli Woods, the wealth management and SIPP business, has reported profit before tax up 36.7% to £13.4m for the year ended 31 May.