In recent years, everyone has had to take more responsibility for their own wealth, with changes in pensions, retirement ages, and regulation. Professional financial advice is more crucial than ever in helping people make informed decisions. Yet a significant advice gap remains (where consumers are unable to find or get financial advice) and many aren’t getting the help they need.

A previous ILC-UK report, The Value of Financial Advice, found that taking advice confers significant financial benefits, and that the difference is even starker among less wealthy individuals. On average, the financial benefits of advice outweigh the costs associated with it.

This report builds on our previous report to demonstrate that financial advice also delivers significant non-financial benefits to recipients.

Publisher: International Longevity Centre UK
Published Date: 2020
Author: Arunima Himawan
Length: 71pp