Is Financial Advice Actually Worth What You Pay For It?

I get asked this more than you'd think. Not always directly - sometimes it's a pause after I explain our fees, or a slightly awkward "and what exactly do I get for that?" at a first meeting. It's a completely fair question, and honestly, I'd be more worried if people didn't ask it.

So when VouchedFor published the results of our latest client survey this year, one number jumped out at me. Ninety-five per cent of our respondents rated us 4 or 5 out of 5 for value for money. Not for the quality of our advice - that scored even higher - but specifically for value. That distinction matters, because value is about whether what you get back is worth what you put in. And that's a question only the person paying the bill can really answer.

The advice gap is real - and cost is a big reason why

The FCA's Financial Lives 2024 survey found that only around 9% of UK adults received financial advice about their pensions or investments in the previous year.¹ Nine per cent. Meanwhile, research from the International Longevity Centre and Royal London found that people who took financial advice were, on average, £47,000 better off over a decade than those who didn't - comprising roughly £31,000 in extra pension wealth and £16,000 in other financial assets.² That study was published in 2019 and has never been updated, but it remains the most rigorous UK-wide attempt to isolate the financial impact of advice.

The figures quoted are likely to have changed over time and should not be used as advice. It is intended for illustrative purposes only.

Those two numbers sit uncomfortably together. There's a significant group of people who would genuinely benefit from advice but aren't getting it, often because they assume it's not for them or that it'll cost more than it's worth.

What "value" actually looks like in practice

Here's the thing - the value of advice isn't just about investment returns. Returns matter, obviously. But when I look at what our clients actually say, the word that comes up most isn't "performance." It's "clarity".

One client told us: "I feel much clearer about my next steps, and much better protected from a legal and planning point of view." Another said the advice had "given me confidence in how to protect our finances." A third, who'd been putting off sorting their pensions for years, said their adviser "makes the difficult simple".

That's what good advice does. It takes something that feels overwhelming and turns it into a plan you actually understand. Eighty-one per cent of our survey respondents said they feel confident they're on track to achieve the goals they're working towards. That confidence doesn't come from a fancy fund selection - it comes from someone sitting down with you regularly, explaining things in plain English, and making sure you know where you stand.

Our clients in Greenwich and Blackheath often tell us they value being able to drop into the office and sit across from a real person. In a increasingly virtual world, having someone local you can actually talk to - face to face, when it matters - is part of what "value" means to them.

Keeping in touch - not just at renewal time

One of the stats I'm most proud of from this year's survey is that 89% of respondents said their adviser proactively keeps in touch, rather than waiting for them to call us. I know that sounds like it should be obvious, but it's a genuine concern people have. You pay for advice, and then you don't hear from anyone until next year's review. That's not how we work. Our team - Catriona, Rachael and I, plus Arti and Elaine from Client Care - stay in contact because things change. Markets move, tax rules shift, life happens. If we're not keeping up with you, we're not doing our job.

What I'd say to someone sitting on the fence

If you're reading this and thinking "I probably should get advice but I'm not sure it's worth it," here's what I'd say. The research suggests people who take advice end up significantly better off financially.² But beyond the numbers, what I hear from the people we work with is that the real value is in feeling less anxious about money. Knowing you've got a plan. Knowing someone's keeping an eye on things.

Ninety-five per cent of the people who work with us think it's worth what they pay. I can't guarantee you'd feel the same - everyone's different. But if you'd like to find out, we offer a free initial 30 minute meeting with no obligation. Have a chat with us and see whether it feels right.

Daren Wallbank, Co-founder and Chartered Financial Planner, Ginkgo Financial

Ginkgo Financial has been named a VouchedFor Top Rated Firm for 2022–2026. Our latest results are published in The Times VouchedFor Top Rated Adviser Guide on 21 March 2026.

The value of investments can go down as well as up and you may get back less than you invest. Past performance is not a reliable indicator of future results.

¹ FCA, Financial Lives 2024 Survey: Financial Advice & Support — Selected Findings (2024). Available at: fca.org.uk/publication/financial-lives/fls-2024-financial-advice-support.pdf

² International Longevity Centre / Royal London, "What it's worth: Revisiting the value of financial advice" (2019). Available at: ilcuk.org.uk/the-value-of-financial-advice/. This study has not been updated since publication.