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.

About 7% of the Personal Financial Society’s 40,000 members - equivalent to about 2,800 individuals - were furloughed by the end of April.

Over two thirds of financial advisers believe financial education is the “most important” way to encourage people to save more for retirement.

More than half of banking and financial services customers around the world use fintech products and services, according to a new global poll.