More than 1 in 4 financial advisers (27%) taking part in a PFS straw poll said clients had reduced the amount they were saving and spending due to concerns about the impact of the Coronavirus pandemic.

The 40,000-member Personal Finance Society is to throw its weight behind rival CISI’s Financial Planning Week campaign for the first time.

More than 120 financial businesses have applied for Associate Firm membership of the Personal Finance Society in the first month.

Some 10% of Financial Planners said they did not feel safe from Covid-19 while working in the current climate in a recent survey.