The report considers what types of advice consumer want, where they and how they access advice and how much understanding do they have of the advice process. It also considers how consumer investment behaviour has been influenced by online developments such as Robo-Advice and how the Retail Distribution Review has influenced behaviour.Currently, 26% of Investors take professional advice, with advice most likely to be sought and taken by wealthy investors who lack confidence in their own investing abilities. Professional advice is used to an above average degree by Investors who are: Risk Takers (own risky investment products), have wealth of £100,000+, are from the AB social grade, are males and are age aged 25-44. Financial advice is primarily sought for investment selection, planning or management and pension selection and planning.
The briefing (69pp, PDF), is available directly from IRN Research, priced at £1,700.