A financial advice group has warned on the risks associated with unadvised client panic, as global stock markets enter bear territory for the first time in 11 years.

Anthony Morrow, chief executive of OpenMoney, said that the “10 percent drop” notification brought in under MiFID II would cause some clients of non-advised and robo platforms to sell inadvisably.

Many younger investors would be receiving such notifications for the first time – and would have little experience of major downturns given the 11-year long bull run.

“We’ve seen a rise in requests for adviser appointments following the recent ...