View more on these topics

Just 8% of advisers back Labour


Only 8 per cent of IFAs are backing Labour, less than half the number supporting the Lib- Dems, with the Conservatives top choice by an overwhelming margin, according to the latest Money Marketing/YouGov poll.

The benchmark survey of 283 advisers, carried out from April 16-27, shows that 51 per cent of advisers intend to vote Conservative while 19 per cent would vote LibDem.

Labour’s popularity among IFAs has fallen sharply since the 2005 election, when a pre-election Money Marketing poll showed that 21 per cent would vote Labour.

Support for the Tories has risen slightly from 47 per cent in 2005 and the LibDems, which had 20 per cent of the votes ahead of the last election, have remained steady. Asked if a hung Parliament would damage the UK economy, 63 per cent agreed or agreed strongly, 17 per cent
disagreed or disagreed strongly and 17 per cent neither agreed nor disagreed.

Sixty-nine per cent support Conservative plans to scrap the FSA in favour of a consumer protection agency while 20 per cent are against the plans.

Baronworth director Colin Jackson says: “It is no surprise that Labour’s popularity among IFAs is so low. It has had a negative impact on pensions, it failed in its handling of the banking crisis and it has done nothing to help savers other than to raise the Isa limit.”


News and expert analysis straight to your inbox

Sign up


There are 24 comments at the moment, we would love to hear your opinion too.

  1. 8% still backing Labour? Are they sane?

    Must be the loonies with a few old exams still living in the past!

  2. 8% … 8%?? 8% too many!!

    Are these IFAs who have been living in cardboard boxes for the last 12yrs??

    Wakey, wakey!!

  3. Bearing in mind the level of government interference within the industry since 1997 I’m staggered that support for Labour is as high as 8%.

  4. Only those on benefits, in prison, or those that support Labour like they are a football team will vote for them.

    You would expect advisers to be reasonably dynamic in their views as a result of being in this industry, but clearly there are some die hards – supporting their favourite like it’s X-Factor.

    …an previous Labour voter…

  5. 51% support Tories?!

    No wonder most of the public don’t trust the financial services sector. 🙁

  6. Doesn’t anyone read your blogs. The Tories are bad for the Financial Services Industry. Are these voters people at the top level in banking bitter by the backlash on bonuses and the crap that they have put us into? It is obvious the Lib Dems will bring stability or even better let us have a hung parliament for the forseeable time.

  7. Anyone in our business who is still backing Labour need their heads testing. They are obviously out of touch with what has and still is going on with this Government, the most disreputable bunch of amateurs we have had to endure since the 1920s, who have brought our country to its knees with the economic controls and policies of a 3rd world dictatorship.

  8. Who said the turkey would not vote for Christmas?

    8% of IFAs are still backing Labour, it takes all sorts.

  9. I always remember a quote from years ago, after growing up in a socialist area.

    Cant remember who said it but it was about communiists/socialists saying:

    ”I have nothing and would like to share it with you. Now what have you got?”

    Coming from a pitmen family, 100 years ago I would have been a Labour voter, with good reason.

    Now its just plain madness. But as they say, pin a red rosette on a monkey ……

    Hey ho.

  10. Actually I remember the abolition of compulsory membership of occupation pensions, giving everyon ethe choice to wreck their retirement plans. Giving everyone the choice to buy their council home, wether or not they had the nouse to understand the implications. I remember interest rates rising to as high as 21%. I remember Margaret Thatchers government teklling people that if was good to be unemployed because it would help the country. Sounds scarily like a new tory government! Don’t you remember these things. Short memories eh!

  11. The old 80/20 rule still stands up, then.

    22% of advisers are sensible enough to not vote for any of the mainstream parties!

  12. That many ?

    Just goes to show that there are some advisers that don’t have any grasp of economics whatsoever. I suspect these will be the same people that are still flogging endowments and ‘with profits’ bonds and worried to death about having to take the odd exam to prove their competence.

  13. Julian Stevens 6th May 2010 at 11:27 am

    No political party has a perfect track record and that of the last Conservative administration is decidedly blotted, not least because Margaret Thatcher became obsessed with her own omnipotence. But she’s now long gone and there seems little likelihood of Cameron being anything like her.

    We all hope that a new government, of whatever hue, will be and do better this time around. But, when all is said and done, each party’s policies are inevitably going to be tainted by its own idealogical slant.

    Having said all that, there can be little doubt that Crash Gordon’s tenure as Chancellor has been a major disaster, not just for the UK economy but possibly for the whole of Europe.

    And look at the damage his policies have inflicted on pensions, the result of which is likely to be a generation of financially disenfranchised pensioners. Furthermore, he appears to have no intention of easing up on this particular campaign of destruction.

    So anyone who votes Labour is either ignorant of the facts or plain bloody stupid as far as I’m concerned. Would you put an arsonist in charge of the fire prevention team?

  14. Incompetent Regulators Awards Team 6th May 2010 at 11:46 am

    Goes to show that 8% of IFAs are really thick and 19% are even more thick! No wonder we have never beat the FSA.

  15. the really big calls off the last 18 months how many would cameron have got right?
    in reality the scary thing is that most advisers have know idea how close the system came to melt down and we are far from out off the woods

    turkeys and christmas spring to mind be careful what you wish for

  16. Richard Brown, Managing Director, Moneynotion Limi 6th May 2010 at 1:02 pm

    As the %ages only add up to 78%, did 22% pick Monster Raving Looney?

  17. David Summers 6th May 2010 at 2:28 pm

    My companies contribute over 6 billion in tax a year, we get a hung or Lib Dem Government I am out of here. Can you imagine the mess we would be in if we had the Euro as our currency right now. Two things I want to see the Labour out of government amd Merwyn King fired.

  18. re richard brown
    No, the rest of us do not trust any of them.

  19. Incompetent Regulators Awards Team 6th May 2010 at 4:38 pm

    Oh Forgot to mention the Tories may be our only hope.

    Hope being the operative word as Mr Mark hoban is the next ostacle in teh tory opack. HE NEEDS THE SACK first then we may get somewhere.

  20. No surprise to see the “I’m alright Jack” brigade out in force here.

    So, back to the under-funding of all our public services, high-unemployment and go fend for yourself if you’re not one of us ideology of the tories then?!

  21. Another Anon IFA 6th May 2010 at 9:40 pm

    I agree with Anon 6th May 10.26. Do we really want another bunch of hooray henry Tories destroying our sountry again. God knows they did enough damage Last time they were in. Youngsters have no concept of what it was like last time and the time before Heath -Powercuts etc etc they have no idea!! Give the Lib Dems a chance!!

  22. Crazy gang IFA member 6th May 2010 at 9:51 pm

    Problem is too many IFAs are reading all the completely bias Tory press and believing all the garbage and lies they print. I am pleased to see that the Lib Dems have been called Nazi’s and everything else under the sun by these tabloid comics. It just goes to show that they are really worried,is good to see that they are finally getting under their skin!! To David Summers I will be happy to pay for your ticket, you need to move on I feel.

  23. Simon Mansell 7th May 2010 at 6:41 pm

    It’s the 8% made up of pro RDR, New Model fee based, charge irrespective of outcome, but because I’m professional brigade!

  24. Terry Blackstone 10th May 2010 at 9:58 am

    I beleieve the BNP is the only party that can drag us out of this mess. Until then we will continue to be the destination of choice for every economic migrant on the planet. A vote for Griffin is a vote for every hard working Brit. Vote BNP!!

Leave a comment


Why register with Money Marketing ?

Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm