A survey carried out by Accord Mortgages describes 79% of brokers as confident in their businesses expanding within the next decade.

Of the 170 brokers asked by the lender, 52% also said that advised market is “more important than it is today”, with 54% citing more need for advice and 54% saying that clients have more complex needs.

Additionally, the survey asked questions about the coronavirus pandemic. Just under half of respondents – 45% – said they have been forced to find new ways of engaging with clients, and 32% reported increased investment in technology.

And 48% of those asked say their work-life balance has improved, while 57% believe their business is in a better position to deal with any future crises.

Regarding risks to their businesses, the biggest answer advisers gave, at 38%, was clients not understanding or appreciating the value of advice and 30% are cautious over automated technology replacing them.

This was split evenly with those concerned about the cost of advice, followed closely by 29% of advisers believing that changing rules and regulations is a significant risk.

Accord managing director Jeremy Duncombe says: “The figures paint a really promising picture for the advised mortgage market and clearly demonstrate the resilience of firms over what has been a challenging couple of years for all. It’s also really encouraging to see the benefits of adopting technology being recognised in the research.

“In the face of adversity, it seems many have come out of the pandemic with welcome confidence, and some really positive expectations of the decade ahead. It’s pleasing so many expect their business to grow as supporting that ambition is at the heart of everything we do at Accord.”