Majority of UK adults believe financial advice to be 'for the wealthy'

The research was conducted by the Financial Services Compensation Scheme (FSCS) which looked at UK consumers' attitudes towards financial advice. More than half (64%) of consumers with savings, investments or a mortgage have not sought regulated financial advice in the last five years. Meanwhile, more than one in five of consumers who received free guidance rather than regulated advice said they did so because they believed the service was "too expensive". More than half (55%) of those with any financial products think that "paying for financial advice is for the wealthy". In ot...