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

What's haunting financial advisers this Halloween?

What's haunting financial advisers this Halloween?

Six experts share their spooky thoughts

Professional Adviser
clock 31 October 2025 • 4 min read
Feel Good Friday: Walbrook Institute London hosts graduation for financial advice and banking students

Feel Good Friday: Walbrook Institute London hosts graduation for financial advice and banking students

Celebrating higher education students and advanced LIBF qualification holders

Professional Adviser
clock 31 October 2025 • 1 min read
Protection did not make the targeted support cut and rightly so

Protection did not make the targeted support cut and rightly so

Tony Mudd on saving for tomorrow and protecting today

Tony Müdd
clock 30 October 2025 • 3 min read