Inflation and the cost of living crisis are big concerns for accountants, but they demonstrate high levels of financial resilience and risk awareness, says Olly Cheng, associate director of Saunderson House
The cost of living crisis is having a greater impact on accountants than other professionals with more than twice the proportion of accountants than solicitors saying that it is one of their greatest financial wellbeing concerns.
Accountants are most worried about inflation, showed a financial wellbeing report from wealth management firm Saunderson House. The majority (55%) of accountants listed ‘a long-term rise in inflation’ as a top concern, compared with an average of 45% among other City professionals, found The Anxiety Abounds as Uncertainty Takes its Toll report.
A high proportion of accountants were concerned about the impact of the cost of living crisis on the value of pensions (74%), other investments (74%), and energy prices (70%). This may be reflective of the healthy conservatism and scepticism involved in the profession, leading accountants to be more attuned to the risks of the current economic climate.
