According to Boring Money’s Spring Census Report, only 7% of adults are prepared to pay £100 per hour for financial advice.
However despite this, 28% of respondents still appreciated face-to-face advice.* Many are ready to pay £100 per hour with a solicitor but not with a financial adviser and with the rise of Robo-advice, Financial Advisers could find themselves easily displaced.
The whole point of receiving financial advice is to get back more than you put in. According to Unbiased, UK savers who received advice saved on average £98 more every month and also received an additional income of £3,645 every year of their retirement income (based upon a pension pot of £100,000).**
However, the value of financial advice can go beyond receiving a return on investments. From having a peace of mind that you made the best financial choices for not only you but also your family, to achieving your goals (like that big holiday you have always dreamed about!), you will find that the benefits of financial advice can take various forms.
Still not convinced? The results are in the stats.
A survey found that 70% of respondents who work with a financial adviser are on track or ahead in saving for retirement. Furthermore, more than 1/3 of adults had determined how much to save for retirement and 1/2 had contributed to a plan.
However, only 33% of adults who don’t work with a financial adviser are on track or ahead in saving for retirement and 14% had determined how much to save, whilst only 16% had contributed to a plan. ***
And even if you receive financial advice at retirement, 28% of 200 Independent Financial Advisers listed in a poll by Unbiased were confident of boosting a client’s income.
These are just a few examples of how financial advice can deliver value in areas of money, knowledge, opportunities, security and peace of mind. Now surely that’s worth the investment?
To find out how you can get started with your personal financial plan, please call 01934 875 919 or visit www.jesellars.co.uk
*Source: Boring Money’s Spring Census Report (2016); 2042 adults surveyed
** Source: https://www.unbiased.co.uk/value-of-advice/report-stats
*** Source: John Hancock Retirement Plan Services – Financial Stress Survey (2015)