Generalist advisers will be put under pressure by cheap automated alternatives as consumers increasingly question the value of advice, online adviser Wealth Horizon has said.
Is this lowly figure the advice profit margin of the future?
Less than a tenth of the population has complex enough needs to warrant the fees they would pay for advice, and would be better served by guidance, an IFA has said.
Hourly rates charged by advisers have fallen by 14% over the last year, research by adviser search website Unbiased suggests, putting rates in line with those charged before the Retail Distribution Review (RDR).
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.
All the world's a stage: How good is your advice show?
Aegon Ireland's Colin Bell says early advice pays dividends in retirement...