Lord Hunt, Chairman of AIFA, said: “In recent times we have heard much about the cost of advice. Now we need to hear about the value of advice."
“[There has been] some welcome signs in recent months of a better appreciation of the role of advice in ensuring that people buy the financial products that they need."
The report noted that while there has been a strong emphasis on cost reduction and the potential of decision trees and internet sites to replicate the role of the advisers consumers are still happy with face to face advice.
Hunt said: "Advice has an important role to play and we will be building on this theme in the coming year to ensure that attempts to write it out of the equation are thwarted."