Consumers are placing growing value on financial advice as speculation ahead of the Budget fuels demand for reassurance and long-term planning, according to new research from Royal London.

The mutual insurer’s Meaning of Value report, released today, shows a marked rise in the perceived value of professional advice.

Some 68% of consumers who pay for advice now rate it as good or excellent value for money, up from 53% three years ago – an increase Royal London says reflects the heightened complexity of the economic environment.

The study, which examines how consumers judge value across financial services and incorporates feedback from advisers, found that clients prize advisers’ ability to provide clarity, stability and personalised plans.

Quality of service, trustworthiness and competitive pricing remain consumers’ top priorities when selecting financial products.

CUTTING THROUGH THE NOISE

Advisers report that clients are increasingly turning to them for help navigating short-term market volatility and political uncertainty.

Almost all advisers surveyed (97%) said clients had contacted them about the current swirl of Budget speculation—evidence, they say, of the enduring need for clear, timely guidance.

Many advisers highlighted their role in helping clients avoid reactive decision-making. One respondent described the job as “saving clients from themselves”, by steering them away from decisions that could undermine long-term financial plans.

AI OPPORTUNITIES

The report also points to a significant shift in how both consumers and advisers are incorporating technology into their financial decision-making.

Among those earning more than £60,000 a year, more than half (55%) now use some form of AI tool to manage their finances, reflecting rising confidence in digital research and planning aids.

Royal London says advisers, too, are experimenting with AI to enhance client service – an area of investment it expects to accelerate as technology becomes more embedded in financial planning.

ADVISERS REMAIN CENTRAL

Jamie Jenkins, Royal London’s director of policy, said the findings reinforced the importance of advice in an unsettled climate.

“People have firm views on what they value in their financial planning, and advisers remain front and centre,” he said.

“Speculation ahead of this year’s Budget has created uncertainty, but it has also strengthened people’s appreciation of the value they receive from advice. AI is changing consumer behaviour, but firms that embrace it will see the greatest benefits.”

RELATIONAHIP-BASED VALUE

Mike Barrett, consulting director at the lang cat, said the research showed consumers increasingly regard value as relationship-based rather than transactional.

“Honesty, reliability and fair returns consistently come through as core expectations,” he said.

“Advisers are responding by offering more behavioural and intangible support—exactly what consumers say they want. Combined with higher professional standards under Consumer Duty, this helps explain the rising value ratings.”