Royal London, in conjunction with the International Longevity Centre recently put a number on how much financial advice is worth to those who receive it. Here, Tom Dunbar elaborates on the findings of that research...
There are many myths and misconceptions around financial advice: some say it is only for high net worth people while others believe the fees are too high. In recent years we have worked with the International Longevity Centre - UK to expose these myths and quantify the value of financial advice. In What it's worth - Revisiting the Value of Financial Advice data was analysed from the ONS'sWealth and Assets survey, which has tracked the wealth of thousands of people over two yearly "waves" since 2004-06 - we are currently on Wave 5. Through this we've been able to look at the financial ...
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