Nearly half of UK adults (46%) plan to sort out their personal finances due to the virus outbreak with 13% of these people planning to seek a financial adviser for the first time.

According to a survey of more than 2,000 adults, another 25% plan to revisit or speak to a financial adviser again, having done so previously. 

Another 13% would like to speak with an adviser but believe it would cost too much or they do not have sufficient assets.

Some 49% of those planning to organise their finances say they are confident financial ‘DIY-ers’, according to the survey carried out in mid-April for Financial Planner and wealth manager Sanlam.

The survey found that those earning £75,000 or more were more likely to sort out their finances and seek advice. Of this group 40% will be contacting their adviser again and 24% are planning to use one for the first time, compared to 32% who said they were confident they could organise their finances themselves.

Some 11% of 18-34 year-olds planned to seek a financial adviser for the first time compared to 9% of those aged 35-54.

John White, chief executive of Sanlam’s wealth division, said: “It’s encouraging to see that nearly half of adults are planning to take action and with 13% of those keen to use a financial adviser for the first time, there is a great opportunity for us all to demonstrate the very real value we can add.

“There’s an opportunity too, to reach some of the other 13% who think that advice is not for them because of perceived costs, or the extent of their assets.

“Of course, in times of crisis people’s thoughts turn to their finances. In addition to unprecedented uncertainty about jobs, businesses and investments, there is also a sense that clients want to ‘get their house in order’ when it comes to things such as what inheritance they plan to pass on and their long-term financial resilience.”

• The online survey was conducted by Atomik Research among 2,007 UK adults aged 18+ during 22 – 24 April.