The adviser trade body said the measures, in terms of spending alone, were well beyond that which was needed a decade ago at the height of the financial crisis.
Tim Fassam, director of policy and government relations at Pimfa, said: "In terms of some of the measures announced we could see many financial services firms taking advantage of the extension of the apprenticeship scheme, which would be a positive outcome.
"But confidence, or the lack of it, will remain the key worry for the government over the coming months."
£9bn furlough bonus scheme
Mr Fassam also said the £9bn job retention bonus scheme revealed by the chancellor today could offer a "lifeline" to those firms in the industry who had furloughed staff and potentially prevent "significant redundancies".
Under the scheme the government will reward employers who bring back furloughed employees with a £1,000 bonus, if they continuously remain in work until at least January.
Mr Sunak told MPs: "Our message to businesses is clear, if you stand by your workers, we will stand by you."
Robert Alster, head of investment services at Close Brothers Asset Management, said at first glance the latest job retention scheme looked attractive, but it was more likely to provide a boost to employers already planning to bring workers back rather than "forcing businesses to rethink layoffs".
Mr Alster said: "Unprecedented challenges require unprecedented solutions, which is what the chancellor announced today, but it’s difficult to know whether enough is yet being done to secure the vast swathes of jobs currently at risk.
"But we must be clear. This is a shot in the dark, and one that must still be paid for at a later date.
"As ever, the proof of the pudding is in the eating, and it is on outcome rather than intent on which the government’s response will be judged."
rachel.mortimer@ft.com
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