Young people most likely to have a financial adviser? That goes against the experience of most of us. Our ‘average’ client is 60. Is that because like attracts like? Don’t think so, as the average age of financial advisers is 58, so I’m intrigued to know who’s advising these 18-34 year olds, what advice they’re being given and how much they’re paying for it. And does the internet, where most of us now go for medical advice (‘the doctor can ‘phone you between 3 and 5pm sometime in the New Year, if that’s OK?), count?
“Advisers fearful of further compliance and regulation”
We know, of course we know, that regulation is, or at least should be a ‘good thing’. If those who need or should seek advice can be confident that they’ll be told the right thing, that someone has looked at those ’too good to be true’ investments before they’re allowed to take your money; or, in the case of a Woodford, while they’re raking it in to make sure it’s going where it’s supposed to.
