In an upbeat assessment of adviser mood, the report says that two thirds (64%) of advisers have increased the size of their active client base and a third (35%) are looking to hire new staff in the next 12 months.
The majority (86%) of advisers think the proposed pension reforms are positive for the intermediary sector but regulatory fees remain the biggest concern for half of advisers (48%).
One of the clearest opportunities identified by investment advisers is offering an online solution for clients with less investment income.
Andy Beswick, Aviva's intermediary director, retirement solutions, told Financial Planner that the barometer of adviser sentiment recorded the most positive views about the future since the barometer started over five years ago.
He said: "It's the most positive (survey) since we started. There remain headwinds around business profitability and costs but there is a growing sense of confidence."
Commenting on the report findings, he added: "What our research has identified is a clear shift in advisers' attitude in the last six months. There appears to be an upturn in the number of advisers joining the market, growth in the number of 'active' clients being serviced, and a real expectation that there will be an increase in demand for advice amongst those in the over 55 age group.
"A growing number of advisers are already looking to broaden their range of services to meet their customers' changing needs in this new era.
Advisers are largely optimistic about the proposed savings and pension reforms and the advisory market in general.
The study of more than 1,500 advisers found that almost two thirds (64%) claim to have seen an increase in the size of their 'active' client base, a significant increase from 28% in September 2013.
The bulk of their clients are new to the market (43%) rather than former clients of other advisers (34%). There also appears to be potential for growth in the size of adviser firms, with 35% of advisers expecting to hire new staff in the next year, and only a small minority (4%) thinking of leaving the industry.
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The majority (86%) of advisers think the proposed package of savings and pension reforms will have a positive effect on the advice market, and almost a half (46%) say they are likely to offer a broader range of products to their customers.
At least four out of five advisers predict they will see an increase in demand for advice among those aged 55 and over.
However, regulatory fees and levies remain the biggest concerns for the largest proportion of advisers (48%), with professional indemnity costs (43%) and 'remaining profitable' (42%) running close behind.
In terms of adviser trends, the survey found that 79% of advisers are now offering independent advice, a fall of 5% over the last 12 months, and 15% are offering restricted advice (up from 10% in March 2013) – a clear shift from independent towards restricted advice.
Overall, advisers seem happy with their chosen platforms, with only one in eight (14%) thinking about changing their main platform in the next 12 months. Over half (56%) of investment advisers say they use three or more platforms, with most placing more than 60% of their new business through the platforms.
Over two thirds of investment advisers intend to transfer most of their total assets under management (AUM) onto platforms in the next three years. However, only a third of advisers have currently transferred this amount onto their platforms.
When it comes to opportunities, two thirds (66%) of advisers identified the Budget reforms as one of the greatest opportunities in the advisory market, with a similar number (64%) looking to actively pursue these openings. Growth in 'at retirement' (60%) and low interest rates increasing the need for financial reviews (34%) were also identified as likely prospects amongst this group.