Corporate Adviser
  • Content Hubs
  • Magazine
  • Alerts
  • Events
  • Video
    • Master Trust Conference 2024 videos
  • Research & Guides
  • About
  • Contact
  • Home
  • News
  • In Depth
  • Profile
  • Pensions
    • Auto-enrolment
    • DB
    • DC
    • Defaults
    • Investment
    • Master Trusts
    • Sipps & SSAS
    • Taxation
  • Group Risk
    • Group Life
    • Group IP
    • Group CIC
    • Mental Health
    • Rehab
    • Wellbeing
  • Healthcare
    • Musculoskeletal
    • Mental Health
    • IPT
    • Wellbeing
    • Trusts
    • Cash Plans
  • Wellbeing
    • Mental Health
    • Health & Wellbeing
    • Financial resilience
  • ESG
No Result
View All Result
Corporate Adviser
No Result
View All Result

Advice gap leaves young people and women underserved: research

by Muna Abdi
February 26, 2025
Share on FacebookShare on TwitterShare on LinkedInShare on Pinterest

Younger people, women, and those in Northern Ireland, the North East, and other underserved regions are missing out on financial advice, largely accessed by older, married men in London and the South East.

This is according to Intelliflo’s latest Advice Map of the UK, based on 2.8 million advised client records. It highlights this gap as the Financial Conduct Authority (FCA) considers new ‘targeted support’ measures to expand access to pension guidance and ready-made retirement solutions.

Around 88 per cent of advised clients are over 40, with just 5 per cent under 30. Men are more likely to seek financial advice than women, at 51 per cent compared to 43 per cent, with the biggest gap in Northern Ireland, where 56 per cent of advised clients are men and 44 per cent are women.

Meanwhile, married people make up 66 per cent of advised clients, while only 17 per cent of singles and 11 per cent of widowers seek advice.

Regionally, London and the South East have the highest engagement, at 10 per cent and 16 per cent respectively, while uptake is much lower in the North East at 3 per cent, Wales at 4 per cent, and Yorkshire at 7 per cent. Northern Ireland ranks the lowest, at just 2 per cent.

Intelliflo CEO  Nick Eatock says: “Our 2025 Advice Map really highlights how urgent it is to address the growing advice gap. Right now, financial advice is mostly reaching older generations, but we need to be more innovative and find ways to connect with younger people, women, and individuals across the whole country. Technology is key to making advice more affordable and accessible to everyone, no matter where they are or what their background is.

“By embracing technology, including artificial intelligence, to streamline processes, advisers can serve more clients and grow their businesses. The future of financial advice will depend on how we use technology to both drive growth and ensure everyone has access to the support they need.”

VIDEO FROM ROYAL LONDON


Find out more about how to support the switching of a workplace pension

Corporate Adviser Special Report

REQUEST YOUR COPY

Most Popular

  • Family - thumbnail

    Standard Life launches financial coaching platform for families

  • TPT launches managed retirement income for life offering

  • Govt Spending Review: industry reaction

  • TPR urges trustees and advisers to “raise their game”

  • Half of UK companies see employee benefit costs as primary financial challenge

  • Capital Cranfield appoints LGIM DB head as trustee

Corporate Adviser

© 2017-2024 Definite Article Media Limited. Design by 71 Media Limited.

  • About
  • Advertise
  • Privacy policy
  • T&Cs
  • Contact

Follow Us

X
No Result
View All Result
  • Home
  • News
  • In Depth
  • Profile
  • Pensions
    • Auto-enrolment
    • DB
    • DC
    • Defaults
    • Investment
    • Master Trusts
    • Sipps & SSAS
    • Taxation
  • Group Risk
    • Group Life
    • Group IP
    • Group CIC
    • Mental Health
    • Rehab
    • Wellbeing
  • Healthcare
    • Musculoskeletal
    • Mental Health
    • IPT
    • Wellbeing
    • Trusts
    • Cash Plans
  • Wellbeing
    • Mental Health
    • Health & Wellbeing
    • Financial resilience
  • ESG

No Result
View All Result
  • Home
  • News
  • In Depth
  • Profile
  • Pensions
    • Auto-enrolment
    • DB
    • DC
    • Defaults
    • Investment
    • Master Trusts
    • Sipps & SSAS
    • Taxation
  • Group Risk
    • Group Life
    • Group IP
    • Group CIC
    • Mental Health
    • Rehab
    • Wellbeing
  • Healthcare
    • Musculoskeletal
    • Mental Health
    • IPT
    • Wellbeing
    • Trusts
    • Cash Plans
  • Wellbeing
    • Mental Health
    • Health & Wellbeing
    • Financial resilience
  • ESG

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.