To close the advice gap and offer more people financial advice, writes Nick Eatock, there either needs to be more advisers or advisers need to be able to deliver advice to more people. In this article the Intelliflo CEO looks at the statistics in a bid to show why technology could be a solution...
I'm a passionate believer in the value of advice, but in the UK the issue of the advice gap is well documented. A study into the advice gap by OpenMoney last year highlighted that fewer than 10% of people had taken regulated financial advice in the previous two years, while BlackRock's Investor Pulse research for the UK found that less than 15% of us use a financial adviser. The impact of the coronavirus crisis on household finances is likely to mean that more people than ever would benefit from access to a financial adviser To bridge the advice gap and widen access to advice, we eith...
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