Similarly, 85 per cent of advised clients were satisfied with their adviser’s ability to understand their needs.
Embark said this gap may indicate that although clients are satisfied, advisers may need to take a more structured approach to confirm their communications are understood.
The barometer found that there are also other factors with 40 per cent of advisers surveyed stating unrealistic client expectations on investment performance may be a reason for the confidence gap and 39 per cent suggested it may be due to unrealistic expectations on what advice can deliver.
The contrasting perceptions of advisers and investors does indicate the value of advice, as evidenced by the bearishness of non-advised investors compared with their advised counterparts, Embark said.
The survey found that 70 per cent of surveyed advised investors agreed that their adviser helps them keep their emotions out of investing.
Embark said this underlines the importance of the adviser-client relationship in promoting what has traditionally been proven to be sensible long-term investing behaviour.
More than half (52 per cent) of surveyed advised clients agreed that current market corrections are a good time to buy, compared to just 42 per cent of non-advised investors.
Ravi-Burslem said: “Advised client investment confidence has also held up relatively better and, thanks to the experience of their advisers, advised clients are more likely to take advantage of the more reasonable stock valuations that current market corrections create.
“This is a testament to the work that advisers do to prepare their clients for market drawdowns and ensure they have the willpower to stay the course with their investments.”
In last year's survey, almost half (42 per cent) of advisers stated they were either neutral or not confident in their ability to accurately measure clients' environmental, social and governance preferences.
It found nearly half (46 per cent) were either neutral or not confident in their ability to invest according to clients' ESG preferences.
sonia.rach@ft.com
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