The majority of advisers are positive on the impact the retail distribution review (RDR) will have on consumer confidence, while many have said there are signs it has already started to improve.
A survey of 404 advisers carried out by Cofunds found that 57% said the RDR has already improved or will improve consumer confidence in financial services.
A total of 16% said confidence has already started to improve with a further 4% anticipating that there will be an improvement before the end of the year.
The research also revealed that 42% believe that RDR will have no impact on consumer confidence.
When asked about client reactions to the move to fees, 30% of respondents said their clients have reacted positively to the transition, while 57% said clients had responded neutrally.
Cofunds head of marketing Stephen Wynne-Jones said: "Advisers have proved themselves to be incredibly adept at managing to put their clients first, all the while taking everything the regulator throws at them.
"So it's encouraging to see that with this latest piece of regulation their sterling efforts, in very trying times, are already feeding through to improved consumer confidence - a confidence, it's important to remember, that was knocked in the main by providers, not advisers."
