Five million more would pay for advice (if it cost less) - report

Some 5.4 million people are willing to seek out and pay for regulated advice but are not prepared to meet current prices, the report, entitled The Four Advice Gaps, concluded. Citizens Advice said the notion of the ‘advice gap' - popularised by the government and several industry stakeholders following the introductions of both the Retail Distribution Review (RDR) in 2012 and the pension reforms earlier this year - should be broadened. Several reports in recent years have highlighted an apparent gulf in what consumers are prepared to pay for financial advice, and what advisers charge ...