Whether or not financial advice is worth it for you will depend on your circumstances, although many people find themselves better off having seen an adviser.
- Joint research from Royal London and the International Longevity Centre reveals individuals who take advice on their investments can end up almost 40% better off in terms of liquid assets compared to those who receive no advice.
- The same study puts the value of advice in terms of real financial assets and pension wealth at £41,099 in additional wealth per person
- According to Unbiased, on a cost/benefit analysis the benefit of advice on pension contributions outweighed the cost by almost 6,000%.
- The Investment Funds Institute of Canada has found that the value of advice is compounded over time, with advised households having a net worth 2.73 times greater than non-advised households after 15 years.
- 93% of financial advice given in 2015 was suitable for clients according to the FCA, which says “the role of the financial adviser is today more important than ever“.
- Research from FTSE 100 financial services firm Quilter (formerly Old Mutual) has found individuals who received pensions advice and set clear retirement goals were projected to enjoy a retirement income more than 50% greater than those who received no advice at all.