27% of financial advisers are working longer hours, with some working more than two hours extra each day compared with a year ago, according to new adviser research from Prudential.
On the flip side, 19% of advisers say they are currently working fewer hours than a year ago.
The study into the working practices of advisers also shows that the average adviser works a 43-hour week. However, one in twenty five advisers (4%) clocks up more than 70 hours each working week.
When it comes to fees, the average hourly rate stands at £157.
Paul Harrison, head of Prudential’s business consultancy for advisers, said: “The last 12 months have seen an increase in the average number of hours worked each week by advisers. Some are clocking up more than two hours extra each day compared with a year ago, with a few even recording a 70-hour working week.
“Previous Prudential research has shown that advisers’ client meetings increasingly act as a new business referral tool, as existing clients recommend them to others. This may be linked to the increased hours worked, as advisers work harder to ensure they are delivering the best possible support and advice, fulfilling the needs of their clients.”
