UK clients prioritise estate planning & retirement

Clients of financial planning firms are placing greater emphasis on estate planning, intergenerational wealth transfer and retirement, according to a survey of 216 senior leaders at UK financial planning firms by Saltus Partnership Programme and L.E.K. Consulting.

In the Financial Planning Growth Index, 31% of firms identified estate planning and retirement as growing priorities for clients. A quarter said avoiding or mitigating capital gains tax had become more important, while 5% said cost-of-living pressures, such as rising school fees, remained a focus.

The data suggests demand is centred on longer-term financial decisions rather than short-term household budgeting. The report said this pattern was consistent with findings recorded in late 2024.

International movement also featured strongly in client activity. More than half of firms (53%) said they had seen clients move abroad over the past 12 months.

That share was higher in parts of southern England. Among firms based in the South East, 60% reported clients moving abroad, rising to 75% in Greater London.

According to the survey authors, the research was carried out before the recent rise in geopolitical tensions. It was based on responses gathered in January from senior figures at firms of different sizes.

The results suggest advisers are being asked to cover a broader range of issues linked to wealth preservation and succession. Estate planning and intergenerational transfer have become more prominent as households consider how to pass on assets, while retirement remains a core planning issue for clients seeking longer-term support.

Client priorities

The findings come as financial planning firms face pressure to respond to changing client expectations while maintaining established adviser relationships. The survey did not quantify the value of assets involved, but it showed where firms are seeing the strongest shifts in demand.

Capital gains tax planning ranked behind retirement and estate matters, but still featured for one in four firms. That makes tax exposure one of the more frequently cited client concerns, alongside succession and retirement income planning.

"In an industry built on longstanding, trusted relationships between advisers and clients, it is crucial firms can meet the changing demands of both prospective and existing clients. Our data presents a clear direction of travel, with the focus on estate planning and retirement showing no sign of slowing. For firms, now is the time to invest in the expertise and tools required to build a comprehensive offering for clients that serves all their needs," said Nick Heath, Head of Relationship Management at Saltus Partnership Programme.

Planning focus

The survey reflects a period in which clients appear to be prioritising resilience over immediate spending concerns. Only a small minority of firms said clients were chiefly focused on day-to-day cost pressures, suggesting attention has shifted towards retirement outcomes, tax efficiency and the transfer of wealth between generations.

That shift has implications for how firms organise advice and support. Financial planners whose services have traditionally centred on investment portfolios may be seeing stronger demand for discussions about inheritance structures, family transfers and retirement timing.

L.E.K. Consulting said the broader picture was one of continued attention to long-term planning despite uncertainty in the policy environment.

"The findings suggest that clients remain focused on long-term financial planning despite ongoing policy uncertainty. This is where the industry must focus: true lifetime planning-led propositions that drive long-term client retention and resilience," said Bronswe Cheung, Partner at L.E.K. Consulting.

The index was compiled from a structured questionnaire sent to respondents drawn from L.E.K. Consulting's database. It covered industry trends, challenges and opportunities across the financial planning sector.

Saltus employs more than 500 people and says it looks after more than £11 billion for clients. The findings point to a client base increasingly concerned with retirement provision, tax exposure and how wealth is passed on across generations, with overseas relocation also a notable feature of recent activity.