Despite fears that consumers would be unwilling to pay for financial advice post the retail distribution review (RDR), AXA's latest Big Money Index has found that one in four consumers are willing to pay for financial advice, the same number as pre-RDR.
Amid continuing economic volatility and persisting uncertainty about where to invest, consumers not only appear to be seeking professional financial advice to manage their finances, but they are as happy to pay for it as they were pre-RDR. While the wealthier segments remain the most likely to turn to professional financial advisers, 25% of young professionals are happy to pay for advice to assist with money management. AXA Wealth Elevate managing director David Thompson said: "AXA's latest Big Money Index would suggest that pre-RDR concerns that consumers would be less willing to pay...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
