Research finds rising demand for professional guidance in turbulent times
The value clients place on financial advice is reaching new highs, with demand intensifying as Budget speculation and market volatility continue to unsettle the sector.
Royal London’s latest Meaning of Value research, conducted with financial consultancy the lang cat, reveals that 68% of consumers who pay for advice now consider it good or excellent value for money, up from 53% three years ago. The findings point to a clear trend: as economic uncertainty mounts, more clients are turning to advisers for reassurance and expert support.
Clients working with advisers place high importance on support in reaching financial objectives, the reassurance received, and assistance in building robust financial plans. When choosing financial products, quality of service, trust, and competitive pricing remain top priorities.
Advisers are also seen as instrumental in helping clients avoid short-term speculation and maintain focus on long-term goals. The study also reports that 97% of advisers have been contacted by clients in response to recent Budget uncertainty, highlighting the ongoing need for clear and timely advice.
“It’s increasingly clear from this research series that people have firm views on what they value in the context of their financial planning, and that advisers remain front and centre of this equation,” said Jamie Jenkins (pictured right), director of policy at Royal London.
“The speculation ahead of this year’s Budget has given rise to an enormous amount of uncertainty, and while most would agree that’s unhelpful, it has only added to people’s positive view of the value they receive from taking advice.”
The findings further indicate a shift in both consumer and adviser attitudes as artificial intelligence (AI) becomes more prominent in personal finance. Among those earning over £60,000, more than half (55%) now use AI services to help manage their finances, signalling a move towards digital solutions for research and planning.
As AI becomes more integrated into financial planning, both consumers and advisers are recognising its potential to enhance decision-making and deliver tailored solutions. Trust, value, and service remain central to consumer expectations, but technology is playing a greater role in the planning process.
“Undoubtedly, the unstoppable rise of artificial intelligence is changing consumer behaviour, but it is also being adopted by advisers and becoming a more integral part of the overall experience,” Jenkins said. “Those advice firms that embrace its potential will likely see much greater benefit than those that view it as a threat.”
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