Clients of financial advisers can hope to be almost two-fifths a year better off in retirement than those who opt to take financial decisions by themselves, according to research by Dunstan Thomas.
A survey by the firm found adviser clients could on average hope for a total post-retirement, pre-tax household income of £33,557.45, compared with £20,373.40 for those who have made all their retirement income provisioning decisions alone.
Dunstan Thomas director of retirement strategy Adrian Boulding said: "While it is inevitable those who go to an adviser for assistance have more savings to manage in the first place, it is worth noting financial advisers instil the financial disciplines of saving, planning and reviewing progress, which helps build long-term savings."
Even so, the survey also revealed a marked lack of appetite for financial advice among baby-boomers, with almost half (47%) of that generation doing nothing or planning to do nothing at all to gain more knowledge about pensions pre-retirement.
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The research, which surveyed 1,002 member of the UK's 'baby-boomer' generation aged 54 to 71 years old, found just a fifth (20%) had sought or planned to seek face-to-face regulated financial advice.
A similar proportion (17%) had sought or would seek financial guidance from the likes of the Money Advice Service, The Pensions Advisory Service or Pension Wise. A quarter of this demographic instead relied on reading the financial pages of national newspapers for guidance.
More specifically, Dunstan Thomas found more than half (54%) of those surveyed had no intention of visiting an adviser for inheritance tax-related financial advice - and indeed just 12% planned to use an adviser for this purpose.
Other reasons baby-boomers cited for using an adviser included obtaining the security of a professional opinion (16%) and because they did not want to make weighty financial decisions alone (8%).
Answers to a separate question suggested more than a third (36%) of baby-boomers could not differentiate between regulated advice and guidance - while just 17% claimed fully to understand the difference.