The Value of Financial Advice – Independent Research that supports our work

We work closely with our clients to help them achieve their financial objectives. We have always believed in the value of good financial planning and it is encouraging when independent research supports our opinion.

The International Longevity Centre recently produced this research, they are a charitable organisation focusing on some of the biggest challenges facing Government and society in the context of demographic change. Their recent paper, produced in July 2017 entitled ‘The Value of Financial Advice’, highlights the average increase in the value of assets for people who sought financial advice over those who didn’t. The period chosen was from 2001-2007 and they then considered their asset value by 2012-14.

The report examined not only the impact of financial advice on an ‘affluent’ group but also those who were deemed to be ‘just getting by’. The ‘affluent’ group was formed from a wealthier subset who were more likely to have a degree, be in a partnership, and be a homeowner. The ‘just getting by’ group were  from a less wealthy subset who were more likely to have lower levels of educational, be single divorced or widowed, and rent a property.

The report found that:

- The ‘affluent but advised’ accumulated on average £12,363 (or 17%) more in financial assets than the affluent and non-advised group, and £30,882 (or 16%) more in pension wealth (total £43,245)
The ‘just getting by but advised’ accumulated on average £14,036 (or 39%) more in financial assets than the just getting by but non-advised group, and £25,859 (or 21%) more in pension wealth (total £39,895)
It was also noted that those who received advice in the 2001-2007 period also had more pension income than their peers by 2012-14:

These findings highlight that good quality financial advice has value. If you take that advice and build it into good quality financial planning, you get a proposition that not only manages your finances, but also helps achieve your financial objectives, this is what we do at Mathews Comfort.

For more information on this report, follow the link below. If you have any questions please do not hesitate to contact us.

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