New research conducted by Axa Wealth has revealed the need for the industry to conduct further work on educating investors on the benefits of financial advice.
In a survey, the company revealed that more than a third of consumers (36%) questioned the purpose of paying for advice as they don’t believe that it will make much of a difference on their financial affairs.
When compared to 87% of consumers who see the value in paying solicitor’s fees, this further highlights the need for the industry to highlight the benefits of dedicated and professional investment advice.
Amongst the reasons provided by those who questioned paying for advice was that it wasn’t tangible and a lack of trust in financial advisers.
