Lack of understanding the main reason for not seeking an adviser

There is still a high propensity to seek an adviser in the future

Sahar Nazir
clock • 2 min read

Nearly half (44%) of people who do not use a financial adviser have said that it is due to a lack of understanding of what they can offer them.

This is according to the Intergenerational Wealth Report 2023 conducted by TIME Investments in January 2023 among 500 people - 250 of them aged between 18 and 26 and 250 aged between 27 to 42 all with annual incomes of £50,000 and above. Of the 44% who do not already use an adviser, the study found that some of the reason include perceiving them as "too expensive" and/or they have decided that they will manage their own finances. However, 46% of this group said that they were likely to use one in the future and a further 34% said they were unsure. Just 16% said they were unlikely to u...

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