With a special section on how COVID-19, lockdown, and volatile markets have accelerated some trends and demands, and changed the nature of what advice people seek in light of the coronavirus outbreak, and how they want to receive it - the 2020 Advice Report provides unique insights from both consumers and the industry.

Price for full report: £5,000 + VAT 

  

This report has been designed to help you:

  • Size the potential advice market.
  • Understand consumer appetites for advice and changing trends.
  • Stay abreast of trends – both from a consumer and an industry angle.
  • Develop a strategy along the advice continuum – using consumer insights.
  • Build and refine a business plan based on research, data and current insights.

Watch our free taster insights:

   

   

Insights include

  • What do investors most need help with?
  • Who are advice users and what do they value?
  • How do advised customers feel about video conferencing?
  • What is the industry view on the boundaries between advice and guidance?

   

Research sources

  • Online survey of 2,000 fund investors
  • Nationally representative online survey of 6,520 UK adults
  • Online survey of 316 Boring Money readers who are active investors

   

   

Contents

How big is the market and who uses advice?

The report explores the advice backdrop of the UK, looking at what is available from a consumer perspective and stats on how many people use advice and who they are.

What main questions do consumers have – what ‘advice’ do they want?

We asked investors what areas of their finances they most want help or information on and what one question they would like to put to a financial adviser in light of COVID-19.

What do consumers value about financial advice?

The report establishes how satisfied advice users are with the advice they receive and why. It includes analysis of over 600 verbatims, looking at the key drivers of satisfaction/dissatisfaction.

How have consumer expectations changed? What role does video conferencing have and how are consumers finding the experience?

In light of COVID-19, we asked investors if and how their advice needs have changed. The report includes research on investors’ use of video conferencing and a measure of how attitudes have changed towards it.

What digital advice or guidance is available to consumers today?

The report looks at what digital advice and guidance is on offer from banks, DIY platforms, robos and digital advisers. It looks at the challenges and opportunities and highlights examples of best practice.

What is the industry view on the consumer response and the current need for advice?

The report includes analysis of comments from over 20 industry leaders on what the consumer response has been to COVID-19.We ask if there is something they would like to have done for clients but couldn’t because of regulation and whether the boundaries need to be softened between advice and guidance.

The ‘so what’ – how do investment communications and propositions need to change going forward?

Needs and priorities have shifted over the last few months alone. What ongoing questions will investors need answering and how will propositions need to change to reflect this?

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