Nearly half (45 per cent) of advisers' clients believe they will retire earlier than if they didn’t have help from a financial adviser or wealth manager, with 48 per cent estimating they will retire by at least 60 years old, research from Investec Wealth & Investment UK has revealed.

The research aimed to highlight how help and education around financial planning and pensions and investment choices have enabled clients to take better control of their retirement decisions.

More than one in seven (15 per cent) of those expecting to retire early said they will stop working up two years earlier.

In addition, 38 per cent believed support from an adviser will help them retire two to four years quicker than if they hadn’t worked with one, and around 16 per cent have said they will retire five or more years earlier.

In terms of the medium for receiving advice, 42 per cent said their advice is mainly face-to-face, one in five (20 per cent) relied purely on digital advice, and 38 per cent said they used a combination of face-to-face and digital.

The research showed a ‘strong’ preference among clients for face-to-face advice, with around two-thirds (67 per cent) stating it is important to meet a financial adviser face-to-face to discuss key life stage milestones and the financial implications of these, with 90 per cent of those who met with advisers face-to-face rating the service as excellent or good.

Furthermore, the study showed that 83 per cent of those receiving digital-only financial advice rated the service as excellent or good.

Commenting on the research, Investec Wealth & Investment (UK) senior investment director, Nick Vaill, said: “Advisers and wealth managers can deliver genuinely life-changing results for clients by enabling them to retire earlier than they would have done if they had not sought advice.

“Clients believe they are better informed about financial planning and on top of their retirement options which is helping them to decide to retire earlier than if they had not had any help.

“A fundamental part of that is that clients still overwhelmingly prefer having at least the option of face-to-face advice.

“Digital services are clearly part of the equation and can deliver good results, but there is overwhelming strong support for face-to-face interaction.”

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