People who get financial advice '£40,000 better off'
New research shows that taking financial advice pays off. As Steve Webb points out, that applies to people right across the income spectrum. The challenge, however, is to increase the take-up of advice. Perhaps low-cost, online advice can help with this?
Our research, The next frontier, shows promising levels of potential demand. Whilst 11 per cent of adults have seen an Independent Financial Adviser (IFA) in the past three years, 34 per cent would pay for online personalised help with simple financial planning.
People who receive financial advice could end up around £40,000 better off than those who do not, research suggests.