Independent financial advisers (IFAs) have reported a surge in enquiries, with 68 per cent suggesting that clients wanting to make changes ahead of the Budget is their biggest challenge, according to research from Rathbones.

The wealth and asset manager revealed that that 91 per cent of advisers had experienced an increase in client queries, with concerns primarily focused on the potential reversal of the pension lifetime allowance abolition, possible changes to the pension tax-free lump sum, and inheritance tax.

Rathbones’ research, based on an independent study of 100 IFAs, found that 31 per cent of advisers had experienced a spike of 26-50 per cent in client queries ahead of the Budget.

The research also showed that two thirds of IFAs (66 per cent) had reported an increase of 11-25 per cent.

Rathbones senior financial planning director, Faye Church, said that the findings had highlighted the “heightened anxiety” among clients as they seek clarity and reassurance in an evolving financial landscape.

“While speculation around a reversal of the pension lifetime allowance abolition has largely flown under the radar, potential changes to the tax-free pension lump sum have dominated Budget-related conversations – yet both are top concerns among our clients,” Church said.

“Advisers are working hard to provide clarity in a fast-moving environment, but the volume and complexity of queries show just how important it is for the Budget to deliver clear, timely guidance.”

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