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Our own independent research conducted by NMG Financial Services Consulting lends weight to that assertion. The survey of more than 530 clients of Sesame members over the 12 months to April was undertaken as part of our ongoing TCF assessment work. The findings clearly demonstrate the value of professional advice, with 97 per cent of clients saying they would be happy to use an IFA again or recommend them to a friend or member of their family.

Of this, 73 per cent said they would definitely use an IFA again. This finding is a credit to our profession and an acknowledgement of the important role TCF plays in not only retaining clients, but also generating new leads.

It is important to remember the vast majority of advisers pride themselves on the quality of the service they provide. That said, there is always room for improvement in the way we organise ourselves, and ongoing TCF work is helping many advisers to gain a valuable insight into the views of their customers - views that are enabling them to further hone the service they offer.

It is highly encouraging clients have shown such high levels of faith in their IFAs, but we must also acknowledge the changes required to embed TCF, which has been a challenge for the advice community. We should not underestimate the time and effort IFAs have had to invest in the TCF initiative, but we should also be reassured by the significant progress made by our profession. After all, Sesame's survey simply corroborates research recently undertaken by the Financial Services Research Forum showing that IFAs are the most trusted financial services institution.

Moving forward, it is vital the governing bodies build on this level of trust and increase consumer access to independent advice. This could be by means such as clear labelling of services for consumers so they know who is truly independent.

The results of Sesame's survey reflect the experience of countless advisers I have spoken to who are increasingly introducing their own customer satisfaction surveys. TCF is not a static operation, but an ongoing improvement process where results can be seen directly and changes to the business can be made accordingly.

This independent research reinforces the huge value people place in professional financial advice and the positive impact this can have on their future financial wellbeing. At a time of general doom and gloom, this is very welcome news, indeed.

Stephen Young is sales and marketing director at Sesame