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...

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