Most people require good financial advice at some point. It could be for pension planning, investments, family protection and inheritance tax planning.
Research from the International Longevity Centre has revealed that on average, financial advice leaves people £40,000 better off compared to those taking no advice. The research looked at those taking financial advice in Britain between 2001 and 2007, and how this impacted their assets by 2012-14.
The report goes on to detail where clients see the benefits, with ‘affluent advised clients’ increasing their liquid assets by around £12,000 and pension wealth by £31,000 compared to those that didn’t take financial advice.
Less wealthy clients had an uplift of almost £40,000 after taking advice, with an additional £14,000 in liquid assets and £26,000 in pension wealth. How much you might benefit will of course depend on your individual circumstances.
Taking advice also led to greater savings and equity investment levels among both groups.
The value of financial advice
As well as improving your financial position, there are a number of other ways financial advice can add value:
- Peace of mind
Having a qualified expert make recommendations based on your personal circumstances can give you the confidence that the investment decisions are right for you.
- Save money
Taking advice from an investment expert should save you money in the long term. An adviser will also help you avoid selecting poor investments, which will lose you money compared to better, carefully researched ones.
Find out if you could benefit today
Simply get in touch with us to find out if you could enhance your wealth today.