Analysis1 has revealed that investors who seek professional financial advice are four times less likely to be vulnerable than the rest of the population.
The study evaluated over 5,000 advised investors using a psychometric financial wellbeing questionnaire developed by an in-house behavioural psychologist. Vulnerability indicators were examined across areas including life events, health, capabilities and resilience. The findings showed that advised clients were significantly less vulnerable, even though they experienced a similar level of adverse events as the broader population.
Strong financial confidence
Advised investors demonstrated robust financial resilience, with six in 10 expressing confidence in their ability to handle financial difficulties. Additionally, nearly half considered themselves knowledgeable about financial matters, and almost eight in ten felt confident managing their finances.
Empowered to navigate any challenge
The study highlights that receiving financial advice helps to foster resilience and reduce vulnerability, empowering investors to navigate challenges with greater confidence and stability.
1Dynamic Planner, 2024
It is important to take professional advice before making any decision relating to your personal finances. Information within this article is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed. It does not provide individual tailored investment advice and is for guidance only. Some rules may vary in different parts of the UK.