Monetary value of advice is £100 a month, claims research

Carmen Reichman
clock

Research has put a monetary value of £100 a month on retirement advice, while claiming evidence shows people save more when advised earlier on in life.

Research from AXA Life Invest found 43% of savers approaching retirement increased their retirement savings by £98 a month as a direct result of taking advice - from £89 pre-advice to £187 after. Advised clients also reap emotional benefits, the research said, as 54% of them stated they feel well prepared for their retirement, compared with 14% of their non-advised counterparts. The study consulted 1,486 pre-retirees, of which 444 were advised and 997 were non-advised, in July this year. The above relates to a sample of 213 advised savers aged 40 and over. There is however no furth...

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

Sector divided on Reeves' pullback on Cash ISA reform

Sector divided on Reeves' pullback on Cash ISA reform

‘A big win for defenders of a broken system’

Sorin Dojan
clock 11 July 2025 • 2 min read
FCA flags progress on internal DEI targets and urges action on Consumer Duty

FCA flags progress on internal DEI targets and urges action on Consumer Duty

According to the FCA report 2024-2025

Sahar Nazir
clock 11 July 2025 • 2 min read
FCA reviewing client categorisation rules to distinguish retail investors from the pack

FCA reviewing client categorisation rules to distinguish retail investors from the pack

Goal of 40 more initiatives to be completed by year end

Eve Maddock-Jones
clock 10 July 2025 • 2 min read