Even those interested in advice are generally not prepared to pay for it, the study argued. The average amount that individuals are willing to pay was £213, well under 10 per cent of the average cost of offering advice on a £250,000 pension pot at retirement, according to Unbiased.co.uk.
Wisdom Council director Alison Malton said the study found that many respondents see retirement as a process and not a one-off event, yet they fail to apply a similar process to its preparation and will often find the reality falls far short of their aspirations.
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“We need to extend this sense of support and preparedness to a wider cohort who want and need professional support but are sceptical of the value of advice,” said Malton.
Pádraig Floyd
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