Six million people would pay for cheaper financial advice - OpenMoney

Four 'advice gaps' to bridge

Sophie King
clock • 2 min read

Almost six million people would be willing to pay for financial advice if it did not cost so much, according to research from financial advice service OpenMoney in association with YouGov.

The research, published on Wednesday, found three out of the four advice gaps identified by Citizens Advice in 2015 have widened in the last four years. According to OpenMoney's research, nearly 400,000 more people now fall into the 'affordable advice gap' - those who are willing to pay for advice but think it is too expensive. OpenMoney's research, conducted through YouGov, also found almost six million people would be willing to pay for advice if it cost less. OpenMoney went on to say the so-called 'free advice gap' - which affects people who want advice but are unable to pay for it...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Culture is the most effective risk tool wealth managers are missing out on

Culture is the most effective risk tool wealth managers are missing out on

'Understanding a firm's culture is understanding its risk profile'

Bev Shah
clock 09 January 2026 • 5 min read
FCA sets October 2027 date for implementation of cryptoasset rules

FCA sets October 2027 date for implementation of cryptoasset rules

Issues further guidance

Michael Nelson
clock 09 January 2026 • 1 min read
WH Ireland shareholders back Team takeover in key vote

WH Ireland shareholders back Team takeover in key vote

FCA clearance still required

Sahar Nazir
clock 09 January 2026 • 3 min read