We, sir, may be better informed (5)
I believe the answer is:
wiser
'better informed' is the definition.
(I've seen this in another clue)
'we sir may be' is the wordplay.
'may be' is an anagram indicator.
'we'+'sir'='wesir'
'wesir' anagrammed gives 'WISER'.
(Other definitions for wiser that I've seen before include "A little more sage" , "more enlightened" , "More shrewd" , "Having learned one's lesson?" , "Less foolish" .)