Main barrier to advice is lack of understanding not cost, say IFAs

The study from Axa Life Invest questioned 206 IFAs about barriers to advice and found the majority believe lack of public understanding rather than the cost of advice is the reason people don't seek out an adviser. However, there are regional differences, and advisers in the East Midlands and Wales are more likely to cite charges as a barrier than those in southern England. The research, conducted by Yougov, was undertaken following the release of the Financial Advice Market Review (FAMR) report and with a view to providing information to the Financial Advice Working Group. Other c...