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

News editor's view: What I've learnt from ambitious young women in advice

News editor's view: What I've learnt from ambitious young women in advice

To mark International Women’s Day this year, I wanted to shine a light on the young female talent out there in the advice profession.

Isabel Baxter
clock 06 March 2026 • 4 min read
Give to Gain: Why lifting women lifts the entire financial sector

Give to Gain: Why lifting women lifts the entire financial sector

Sharing time, knowledge and opportunity creates meaningful change

Steph Willcox
clock 06 March 2026 • 4 min read
Acting on, not just celebrating International Women's Day

Acting on, not just celebrating International Women's Day

'At my firm, we are walking the talk through a number of practical initiatives'

Fiona Oliver
clock 06 March 2026 • 4 min read