Earlier this year, we reported on research from Royal London and the International Longevity Centre that demonstrated the value of individuals seeking professional financial help and advice. In essence, the research showed that those who received such advice between the period 2001-2006 were on average £47,000 better off a decade later than those who did not.
It was disheartening therefore to read recent research that illustrated many people still do not seek help when making investment decisions.
For example, according to a survey conducted by YouGov, only around one quarter of British people would speak to a financial adviser if they were given a £500,000 windfall tomorrow. Another survey by YouGov showed that just 10% of their survey of 2,000 people had taken paid-for financial advice.
We were sorry to read that the most common word respondents associated with financial advice was ‘expensive’ followed by ‘untrustworthy’. The word ‘commission’ also regularly cropped up, despite the Retail Distribution Review in 2012 that required higher standards and greater transparency from financial advisers in terms of the charges they make to investors. Although some positive words were given – for example ‘managing money’, ‘help’, ‘expert’ and ‘trust, these were largely outweighed by the negatives.
Changing a bad reputation can be very difficult and the surveys have illustrated that despite intervention by the Regulator (Financial Conduct Authority), overall impressions of the financial advice industry have not much improved.
We want to assure you that here at Brunsdon Financial helping our clients to invest wisely and to plan for a future that meets their hopes and expectations is at the heart of what we do. We offer a number of charging options, all of which are explained clearly to our clients before any transactions are made. Our financial advisers are amongst the best in their field, highly qualified and can be trusted to provide you with bespoke, individual advice to suit your circumstances.
We believe that our service offers real value for money and we hope that you agree. Testament to this is the fact that our business growth over the past nearly 90 years has been based on word-of-mouth recommendation and long-term customer loyalty.
If you are happy with the service you receive and would like to recommend us to a friend or associate, please don’t forget that we are offering a thank you gift worth £100. You can find out more on our website.
And finally, should you be lucky enough to receive a £500,000 windfall tomorrow, please ask us for advice on how to invest it wisely! We’d love to help you.
The value of investments can fall as well as rise. You may not get back what you invest.
Brunsdon Financial is not responsible for the content of third party web sites.
Source 1:
https://www.royallondon.com/media/press-releases/2019/november/financial-advice-provides-47000-wealth-uplift-in-a-decade–new-research-from-royal-london-and-the-international-longevity-centre/
Source 2:
https://www.healthinsuranceandprotection.com/business/just-a-quarter-of-people-would-speak-to-a-financial-adviser-if-500000-came-their-way
Source 3:
https://citywire.co.uk/new-model-adviser/news/just-10-of-brits-pay-for-advice-trust-and-cost-still-colour-perceptions/a1386132
