More financial education is needed - Openwork

Most clients willing to pay for financial advice

Adam Saville
clock • 4 min read

Two thirds of advisers believe more emphasis should be placed on financial education in schools

Financial advisers believe government, schools and the financial services industry should do more to highlight the value of advice because clients are willing to pay for it, research by Openwork has suggested. Meanwhile, another study by the network has revealed advisers are seeing a surge in demand for inheritance tax (IHT) advice. According to Openwork's research, 65% of clients are willing to pay for advice when provided with an explanation, while 38% are happy to pay without any explanation. Just 3% of advisers said they regularly lose clients over fees. However, the study of 1...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Adviser / Broking

COVER Customer Care Conference 2025: Roundup

COVER Customer Care Conference 2025: Roundup

Today (27 June, 2025), COVER hosted its Customer Care Conference, focussing on building consumer trust through care.

Cameron Roberts
clock 27 June 2025 • 4 min read
BIBA publishes guide for brokers to understand AI

BIBA publishes guide for brokers to understand AI

Regulatory, legal and compliance considerations

Cameron Roberts
clock 27 June 2025 • 1 min read
GRiD adds IHC to membership

GRiD adds IHC to membership

Independent advice to corporate clients

Jaskeet Briah
clock 18 June 2025 • 1 min read