Targeted support could lift 5 million people out of advice gap

‘Targeted support could move the dial and present business opportunities’

Isabel Baxter
clock • 1 min read

Targeted support from the advice guidance boundary review has the potential to lift 5.3 million adults out of the advice gap, Boring Money has found.

Its Advice Report 2024 tested the appetite for both targeted support and simplified advice. It concluded that targeted support has the potential to lift 5.3 million adults, with collective assets of more than £250bn, out of the advice gap. This comes as 12.4 million adults in the UK, made up of both existing investors and cash savers with more than £10,000 in cash, fall into the advice gap. It highlighted that 9% of UK adults have financial advice today, 21% of all investors. Those in the advice gap need help and advice, report low confidence, and yet have the financial means an...

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