Financial advice good for confidence but high costs still restrict access

Only 5% of respondents reported seeing a financial adviser regularly

Isabel Baxter
clock • 1 min read

Receiving financial advice improves confidence but access to advice remains limited, Interactive Investor’s Great British Retirement Survey 2023 has revealed.

The survey revealed that 51% of UK adults said they had never taken any financial advice and only 5% of responders reported seeing a financial adviser regularly. Meanwhile, 28% of those surveyed no longer take advice but have in the past. Despite this, 89% of those who had seen an adviser reported feeling more confident afterwards with one in three (33%) feeling much more confident. Many respondents described good advice as essential, but some noted how charges can be an issue. One said: "Financial advisers are out of reach within reasonable fees." Another remarked: "I worry ...

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

Tessa Lee: The invisible cost of poor client data

Tessa Lee: The invisible cost of poor client data

How can you improve data quality?

Tessa Lee
clock 23 July 2026 • 4 min read
Dean Proctor: Hopes and fears for the new PM and cabinet

Dean Proctor: Hopes and fears for the new PM and cabinet

Stability, simplicity and the chance to do things differently

Dean Proctor
clock 23 July 2026 • 5 min read
Should spousal maintenance be abolished? A modern perspective

Should spousal maintenance be abolished? A modern perspective

Making the case for abolition and retention

Amy Walpole and Karen Brennan
clock 22 July 2026 • 4 min read