UK clients happy with financial advice

AdvisorMany UK clients of financial advisers feel they are getting good value from their advice, an index from Vanguard Asset Management shows. Vanguard’s newly launched Value Index, which measures over time the value that clients perceive from their advisers, sits at 73 out of 100 (with 100 representing maximum value) based on the perceptions of 760 advised clients on the categories of fees, market performance and financial goals. Vanguard says the Value Index paints a “promising picture” of the adviser landscape, with 41% of respondents receiving high value from their advisers and 26% receiving moderate value.  Furthermore, 17% of all advised clients say that the value they have received relative to fees has increased over the last 12 months.  Rather than focusing on stock selection, clients get the most value from their advisers that help them focus on the long term (92%), provide guidance (78%), and offer a strong personal relationship (94%). Neil Cowell, Vanguard’s head of UK retail sales, said: “One of the positive outcomes of [the Retail Distribution Review] is that it has forced a meaningful conversation about what constitutes value for clients.” ©2013 funds europe

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