How would you feel if you discovered you were paying double the level of fees on your pension or investment that you were led to believe? 'Clarity On Fees' is the #1 thing consumers say would improve the level of trust they have in Financial Advice. 76% of people do not know how or what their Financial Advisor is paid. Most pension holders have no idea they are likely paying over 2% fees every year. These are just a sample of the startling results from consumer research we recently conducted. As someone who is hell-bent on finding a win-win for both Consumers and the future of Financial Advice, these results are pretty terrifying, for everyone involved! There is an urgent need for the Financial Advice profession to pull it's socks up, and to start playing fair with you the consumer. Either it does, or it'll be sat on the Sub's Bench for eternity.
Informed Decisions Independent Financial Planning & Money Podcast