AXA guinea pigs £50,000 better off after seeing adviser

clock

Participants in a year-long Axa experiment testing the virtues of using professional advisers, are collectively £50,000 better off, according to the firm.

The research also found they have also jointly increased their savings by 40% and reduced debts by 22% since the experiment began in November 2005. The firm revisited some participants of its ‘Axa Avenue’ financial experiment, where 10 households in Brighton were given access to an IFA for a year and another 10 were left to their own devices. Research found households demonstrated immediate benefits of having access to an IFA, while some 18 months on, Axa says there is further evidence those advised have adopted long-term financial planning habits, with some considering using an IFA regu...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Your profession

March 2024: Month in review with deputy editor Jenna Brown

March 2024: Month in review with deputy editor Jenna Brown

Take a look at some of the news and feature highlights of the last month

Jenna Brown
clock 28 March 2024 • 5 min read
Wren Sterling adds £265m in client assets in latest deal

Wren Sterling adds £265m in client assets in latest deal

First advisory firm purchase of 2024 for national financial planner

Jenna Brown
clock 28 March 2024 • 1 min read
Consumer Duty Alliance looks to attract advice industry talent

Consumer Duty Alliance looks to attract advice industry talent

New Talent Alliance will be chaired by M&G Wealth Advice MD Tom Hegarty

Isabel Baxter
clock 27 March 2024 • 2 min read