Three quarters of IFAs plan to retire in the next decade - 31% in the next two to five years - raising concerns there could be insufficient adviser numbers in the future.

Rising business costs, increased workloads and heavier regulatory burdens are harming the mental health of financial advisers.

The raft of pension changes announced by the Chancellor in the March Budget has fuelled an increase in enquiries from clients, according to new research.

The vast majority of financial advisers (89%) feel positive about their business this year with only 11% pessimistic.