The International Longevity Centre (ILC) is calling on the government, the industry and the regulator to work together to close the advice gap to ensure an extra five million people understand enough to plan for later life by 2030.
Its latest report, Peace of mind: Understanding the non-financial value of financial advice, said that only one in six people in the UK take advice, with particularly low uptake rates for women. However, those that do take advice can end up being £47,000 better off. Key barriers identified in the report, which is sponsored by St James's Place Wealth Management, include a lack of awareness of what advice is and a lack of knowledge of where to find an adviser. The ILC, a specialist think tank on the impact of longevity on society, wants the government, the industry and the regulator to ...
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