Delays cause 'inefficiencies' in male-dominated advice sector

Clients and advisers frustrated by red tape

clock • 2 min read

Financial advice is still dominated by middle-aged men and red tape is causing lengthy delays for clients accessing advice, research by NextWealth and the Personal Finance Society (PFS) has found.

The consultancy and trade body together surveyed 482 PFS members in July and found just a fifth (20%) of financial planners were female, while the average age of planners was 49. Elsewhere, it found clients wait up to four weeks from their first point of contact with a planner before they receive advice, mainly because financial planners need to wait for providers to release information on existing policies. NextWealth managing director Heather Hopkins said: "The most dramatic finding is the inefficiencies at the heart of retail investing. The lengthiest step in the process is waiting...

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

Sentiment on the rise but 'calm may not last' as Budget looms

Sentiment on the rise but 'calm may not last' as Budget looms

According to Dynamic Planner’s Financial Happiness Index

Sophia Panayi
clock 06 October 2026 • 2 min read
SJP adviser academy welcomes 200 graduates

SJP adviser academy welcomes 200 graduates

Graduation ceremony held on Friday

Sophia Panayi
clock 05 October 2026 • 2 min read
Feel Good Friday: EQ Investors team completes 17.5-mile charity walk

Feel Good Friday: EQ Investors team completes 17.5-mile charity walk

For Carney’s Community

Professional Adviser
clock 02 October 2026 • 1 min read