In 2017 ILC published its report, The Value of Financial Advice, which
quantified, for the first time, the value of taking financial advice for
people’s overall financial outcomes.

In an ageing society, it is vital that people are able to plan for
their financial security in retirement. The Value of Financial Advice
demonstrated that expert advice provided by professionals delivers
real value in improving people’s finances.

This report presents updated analysis, using an additional wave of
data from the Wealth and Assets Survey and considering a number
of additional questions.

When it comes to sources of advice and the ways in which people
purchase financial products, our analysis shows that technology and
the internet already play an important role in information-seeking
behaviour among consumers. There is huge potential for technology
to support improved access to financial advice – and significant
scope for innovation in this field.

Publisher: International Longevity Centre UK
Published Date: 2019
Author: Dr Brian Beach
Length: 16pp