Almost half of clients believe they will retire earlier with adviser's support

Forty-five per cent of adviser’s clients believe they will retire earlier with the support of advisers, compared to those who do not, Investec Wealth and Investment has found.

A survey by the firm also revealed that 48% said that they will be able to retire by the time they are at least 60 years old, following on from support from advisers.

The study was designed to highlight how help with financial planning can assist in deciding on a retirement date and being better informed around pensions and investments can allow for clients of advisers to take more control of their retirement decision.

Furthermore, Investec Wealth and Investment surveyed retail investors with stock market investments including pensions, with 45% of those who took part in the survey stated that they believe they will retire earlier with this support.

More than one in seven (15%) of those who expect to retire say they will stop work up to two years earlier, while 38% believe support from an adviser will help them to retire between two and four years quicker than if they had not worked with an adviser.

An additional 16% said they will retire five or more years earlier with this support.

Senior investment director at Investec Wealth and Investment (UK), Nick Vaill, said: "Advisers and wealth managers can deliver genuinely life-changing results for clients by enabling them to retire earlier than they would have done if they had not sought advice.

"Clients believe they are better informed about financial planning and on top of their retirement options which is helping them to decide to retire earlier than if they had not had any help."

Investec’s survey also revealed a preference among clients to face-to-face advice, although one in five (20%) said they relied purely on digital advice.

More than double (42%) said their advice is mainly face-to-face, with 38% saying that it is a combination of digital and face-to-face.

Around two thirds (67%) added that it is important to meet a financial adviser face-to-face to discuss key life stage milestones and the financial implications of these, while 90% of those who see advisers face-to-face rate the service as excellent or good.

Vaill added: "A fundamental part of that is that clients still overwhelmingly prefer having at least the option of face-to-face advice. Digital services are clearly part of the equation and can deliver good results, but there is overwhelming strong support for face-to-face interaction."



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