Taking financial advice will enhance your wealth
A recent report1 has shown that consumers who take financial advice find themselves better off than those who don’t take advice when making major financial decisions.
Entitled ‘The Value of Financial Advice’, it was produced by the UK think-tank, the International Longevity Centre1, in conjunction with insurers Royal London, and demonstrates that those who receive financial advice are on average £40,000 better off than those who don’t.
The report examines two groups. The affluent group, comprised of wealthier people who are more likely to have degrees, be part of a couple, and be homeowners. The other, the ‘just getting by’ group, was more likely to have lower levels of educational attainment, be single, divorced or widowed, and be renting.
The ‘affluent but advised’
This group accumulated on average £12,363 (or 17%) more in liquid financial assets, and £30,882 (or 16%) more in pension wealth than those who were affluent but hadn’t received advice.
The ‘just getting by but advised’
Here a similar picture emerged. This group accumulated on average £14,036 (or 39%) more in liquid financial assets, and £25,859 (21%) more in pension wealth than those who were ‘just getting by but not advised’.
What financial advice provides
Getting the best mortgage deal, saving into the right pension plan, or investing wisely for the future are just some of the occasions where getting informed professional advice can help you make the right decisions for your money.
So, if you’d like help with life’s important financial decisions, or feel that you could benefit from an assessment of your current circumstances, or would like help devising a comprehensive wealth plan for your future, then do get in touch, we’re here to help.
1 International Longevity Centre, 2017
The value of investments and pensions and the income they produce can fall as well as rise. You may get back less than you invested.
What’s your next step?
Saving into the right pension plan or investing wisely for the future are just some of the occasions where getting informed professional advice can help you make the right decisions for your money.
Book your free, initial no-obligation meeting with one of our financial planners today.
The information contained within the blogs was correct at time of writing. If this area is of interest to you then do please feel free to get in touch as we would be more than happy to bring you fully up to date on any changes.