New research report quantifies the value of advice
To try and identify the benefits of financial advice, Royal London commissioned the International Longevity Centre (ILC) UK to undertake detailed statistical analysis to try and isolate a pure ‘advice effect’. The ILC is the UK’s specialist think tank on the impact of longevity on society.
The ILC did this by using the government’s Wealth and Assets Survey. This interviews the same group of people every two years, asking them about their personal characteristics and various forms of wealth. Crucially, it also indicates which people in the survey took expert financial advice.
This major report has looked at the specific value of financial advice and quantified just how much better off individuals who took advice are, compared to those who didn’t.
A brief summary of the results is shown below:
In this research report, feeling the benefit of financial advice we've found that people who talk to their adviser regularly, are emotionally and financially better off in the long term.
Read the research report by clicking on the link below: