Almost half of clients would like to meet their financial adviser more than once a year, new research by Vanguard has revealed.
The investment firm’s annual advice survey, representing the views of over 1,000 advised investors and 200 advisers, reveals a mismatch in expectations.
Investors value financial advice
The findings show that advised investors deeply appreciate the value of financial advice, with 93.6% recognising their adviser had made a meaningful difference to the health of their portfolio.
However, the value of advice extends well beyond investment performance. Overall, 78.2% feel confident in reaching their long-term goals thanks to their adviser, while 76.2% said their adviser boosts their mental and emotional wellbeing.
Financial security is a deeply personal topic, and investors see their advisers as a source of reassurance and peace of mind, not just returns.
Advisers might not always understand what investors value about advice
Despite this, there are areas of misalignment between what investors want, and what advisers deliver.
While 15.8% of clients report leaving due to poor investment results, 24.4% cite neglected relationships as the primary reason for leaving their adviser.
Personalisation and human connection are critical drivers of strong adviser-client relationships.
Advisers (98.1%) and investors (92.5%) agree that a “human to talk to” is more important than investment performance.
However, only 29% of advisers report meeting clients more than once a year in person, while 46% of investors say they would like to meet their adviser more than once a year.
Source: Vanguard, 2025. Advisers were asked: Please rank the top 3 most likely reasons for your clients to cease the relationship with you?
The great disconnect over the great wealth transfer
Miscommunication is most evident, however, in the context of the upcoming great wealth transfer.
With approximately £7trn set to be exchanged between generations over the next three decades, legacy planning is a key component of advice.
The research indicates that children often do not consider their parents’ financial adviser when they inherit.
Only 28% of investors surveyed believe their children will continue the relationship with their adviser after their death.
Meanwhile, 53% of advised investors said they wanted wealth transfer conversations to begin earlier in the adviser relationship, ideally in their 40s and 50s.
In contrast, advisers said they tend to begin legacy planning conversations with their clients only when they are in their late 50s and 60s.
Engagement gaps also persist with the families of clients. Only 3.8% of advisers report meeting the children of their clients frequently, despite 28% of investors expecting their children to continue the adviser relationship.
Advisers cite lack of interest from heirs as a barrier, suggesting there is work to do on both sides to make for a more constructive dialogue.
