Advisers have said that the recent Autumn Budget was not as bad as they had feared, but they are still disappointed about the lack of substantial reform in the statement, the lang cat has found.

The financial services consultancy revealed that before the Chancellor’s statement last week, 92% of advisers were expecting bad news for their clients, with just 27% anticipating a positive impact on their firm.

However, following the Autumn Budget, sentiment improved slightly, with 76% feeling that it would still adversely affect clients, while 41% believing that their firm might benefit.

Despite this shift in positivity, the lang cat found that survey respondents described the Budget as another round of "fiddling at the edges", with advisers stating that frequent policy changes lead to uncertainty and make long-term planning harder for clients. Survey respondents also said the system is too complex, changeable and politicised.

Of the recent policy changes, the most unpopular measure was the new £2,000 cap on salary sacrifice, which will be implemented from April 2029. Advisers stated that this limit is too low and will add administrative complexity and will disproportionately affect ordinary savers rather than the wealthiest.

Furthermore, strong concerns were raised about new ISA rules, lower cash ISA limits and what advisers see as added complexity across the ISA landscape.

Consulting director at the lang cat, Mike Barrett, concluded: "Advisers went into Budget week expecting a hammer blow for their clients. What they got instead was something softer but ultimately still disappointing.

"The message from the profession is crystal clear - stop tinkering. These small, complicated adjustments don’t help advisers plan, don’t help clients save, and don’t address the long-term issues the country needs to tackle including people’s financial resilience.

"If the Government wants to build trust and stability, it needs to focus on simplicity and transparency, not add yet more moving parts to an already complex system."

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