Why advice matters

From making your money work harder to helping you feel more financially confident.

Take the worry out of the big decisions

Worrying is a natural human emotion, it’s part of our survival instincts and protects us from harm. And whilst we generally no longer need it from a ‘survival’ point of view, we’ve evolved to worry about other things in our daily lives.

Money is often something people worry about, do I have enough to pay my bills? How will I support my children or elderly relatives? Can I support myself in retirement? And these are all perfectly rational things to be concerned about. As level-headed as we try to be when making financial decisions, it’s almost impossible not to have some degree of emotional attachment - after all it’s our hard-earned money.

Helping to safeguard your financial future

This is where financial advice could really help. A study by the International Longevity Center (ILC)** on the non-financial benefits of financial advice found that, of those interviewed, people who had taken financial advice had greater confidence and felt a greater sense of control, reassurance and peace of mind for their financial future.

Of course, mental wellbeing is only one aspect of financial advice. Here's what one of our clients had to say about the advice they received and the support their adviser gave.

"The service is excellent – I’m very pleased, so pleased that I’ve already recommended this service to friends and family. My adviser makes everything so easy to understand and I appreciate him - he is kind, caring and friendly and gets the job done!"

 Evelyn W, March 2024

Making your money work harder

Advice can help make a big difference to your finances, whether that is through ensuring you’re making the most of tax allowances, choosing different investments or finding the best way for you to access your pension.

Research by the *ILC-UK has shown that people who take advice increased their wealth by a staggering £47,000 over ten years. The study was carried out over a long time frame to get an extensive view of people's finances and measure the long-term impact.

Importantly, this research also helps break down a common misconception that advice is only for the wealthy. The study was carried out with two groups, those that considered themselves ‘affluent’ and those that considered themselves ‘just getting by’.

Those in the ‘just getting by’ group actually saw a greater positive impact from financial advice than the affluent group.

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*ILC-UK, (International Longevity Centre -UK) ‘The value of advice’ report, 2017. The research explored the impact of financial advice between 2001-2006 on financial outcomes in 2014-2016. Due to the fact this study was carried out over such a long period, it is the latest data available.

** ILC-UK, (International Longevity Centre -UK) ‘Peace of mind: Understanding the non-financial benefits of financial advice’ report 2020

“M&G Wealth Advice” is a trading name of M&G Wealth Advice Limited which is registered in England and Wales. Registered office at 10 Fenchurch Avenue, London EC3M 5AG. Registered number 5739054. Authorised and regulated by the Financial Conduct Authority.