Research by the International Longevity Centre-UK (ILC-UK) has found that those who receive either independent or restricted financial advice are on average £40,000 than their unadvised peers.

The research, supported by Royal London, found that those who received financial advice between 2001-2007 had accumulated “significantly more” liquid financial assets and pension wealth than their unadvised counterparts by 2014.

The report ‘The Value of Financial Advice’ analysed the impact financial advice had on two groups – the ‘affluent’ and the ‘just getting by’; examining 5,000 people and households across the UK.

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