In the UK is financial advice useful?

I read a recent article by Chris Dillow in Investors Chronicle, which looked at the merits of financial advice. It could be counter-productive according to some studies. However, when financial advice comes into its own is when it assesses the risk profile of clients. Dillow also says, perhaps tongue-in-cheek, that rather worry about financial planning, people should really look at if they want a bigger house or car.
In the Money Marketing publication Adviser Business the managing director of Worldwide Financial Planning, Peter McGahan, says that in terms of investment business the firm is attracting business from clients, who are basically unhappy with banks.
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