Three in ten write off financial advice due to cost concerns

Other barriers include uncertainty and trust worries

Jen Frost
clock • 1 min read

Three in ten people who have considered financial advice have swerved it due to cost concerns, research has found.

The Lang Cat surveyed British consumers for its ‘The Advice Gap 2024' report, released Wednesday (3 July). Of the 13% who said they had considered advice but not utilised it, 30% said that costs had proved a key barrier. Cost concerns were most pronounced for those aged under 55, with fewer than one in four (24%) of over 55s citing that they were put off because advice was "too expensive". Other top reasons for not obtaining advice after considering it included that people were unsure where to find an adviser and a lack of trust in the profession. The Lang Cat research identified a...

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