The key data on why financial advice adds value
By Mark Battersby, 24 Aug 17
Those who received financial advice in the 2001-2007 period had accumulated significantly more liquid financial assets and pension wealth than their unadvised equivalent peers by 2012-14, a report by the UK think tank International Longevity Centre supported by Royal London has found.
The report found that 9 in 10 people are satisfied with the advice received, with the clear majority deciding to go with their adviser’s recommendation.
Despite the advantages of receiving advice, only 16.8% of people saw an adviser in the years 2012-2014. Indeed, ‘The Value of Financial Advice’ finds that even amongst those who took out an investment product in the last few years, around 40% didn’t take advice, rising to 78% of people who took out a personal pension.
Tags: Royal London
