Wealthy individuals feel able to manage their own finances - Aegon

21% already have plans in place

Sophie King
clock • 1 min read

More than half (53%) of wealthier non-advised individuals feel confident enough to manage their own finances, which proved to be the main reason why they had not sought advice, research by Aegon found.

As part of its Advice Makes Sense initiative, Aegon conducted a study looking at how the public view financial advice.  Those who are wealthy but do not take financial advice found the second biggest barrier to seeking advice was the cost (33%), with trust in advisers following third (24%). A further fifth (21%) said they already had financial plans in place. The research found that just under one in five (17%) wealthier individuals had an adviser, and the majority (94%) of those were either happy or very happy with the service they received. Aegon chief distribution officer Ronnie...

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

Advisers concerned clients are being misled by AI - research

Advisers concerned clients are being misled by AI - research

More than two thirds flag concerns about clients turning to AI for financial advice

Sophia Panayi
clock 04 June 2026 • 1 min read
Standing out from the crowd: WIFA entry tips from judge Gillian Hepburn

Standing out from the crowd: WIFA entry tips from judge Gillian Hepburn

'The number of outstanding entries always makes judging challenging'

Gillian Hepburn
clock 04 June 2026 • 4 min read
Advisers report under 50s make up growing chunk of client banks

Advisers report under 50s make up growing chunk of client banks

Under 40s make up almost a third, FE Fundinfo research finds

Sophia Panayi
clock 02 June 2026 • 2 min read