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.”
