IFAs must embrace technology to focus on the value of advice

The latest report into the advice gap from the Lang Cat found that just 11% of British adults, around 5.7 million people, have taken advice in the last two years. But of those who have taken it, the vast majority (88%) feel that it is good value for money. We know that taking advice early enough can make a huge difference to people's finances - 2019 research by the International Longevity Centre UK and Royal London found that it could provide a boost in wealth of £47,000 in a decade. So broadening access to advice is clearly a good thing. But with a finite number of financial advisers, h...