The majority of financial advisors feel they are lacking the full toolkit to help savers deal with uncertainty, research reveals.

Two-thirds of advisors want to see more solutions to guarantee a level of income in retirement and safeguard savings against volatility, according to research by life insurance giant MetLife.

The research was conducted among 104 specialist investment and retirement advisors in the UK.

Advisors are looking to the UK’s Financial Conduct Authority and the Treasury for support for innovation, with 54 per cent saying they would back campaigns to outline the benefits of guaranteeing a level of income.

“We have seen strong demand following pension freedoms with advisors and clients focusing on the need for certainty and flexibility,” said Dominic Grinstead, managing director at MetLife UK.

MetLife reported that its assets under management had hit the £5 billion mark, an indication of the “strength of the market” amid ongoing volatility and low interest rates, it said.