Demand for face-to-face financial advice 'remains strong'

Two thirds feel robo-advice won’t meet their needs

Adam Saville
clock • 1 min read

Covid-19 is driving demand for advice and has not diminished popularity of face-to-face support, research from Openwork has suggested.

Nearly one in five (17%) adults said they are now more likely to seek financial advice in the wake of economic hit from Covid-19 rising to nearly one in four (23%) among under-35s, according to new research from advice firm Openwork. Around a third (29%) said the pandemic has knocked their financial planning off course. Nearly two-thirds (63%) still want face-to-face support, despite lockdown and ongoing social distancing measures, while 66% were concerned that robo-advice will not meet their needs. Just under half (44%) said they would benefit from some form of financial advice, risi...

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

Professional Adviser TV: Creative ways to tackle the advice gap

Professional Adviser TV: Creative ways to tackle the advice gap

With Octopus Money CEO Ruth Handcock and financial adviser Kristian Manton

Professional Adviser
clock 25 April 2025 • 1 min read
Economic secretary confirms wholesale ISA review as experts demand sweeping reform

Economic secretary confirms wholesale ISA review as experts demand sweeping reform

LISA reform front and centre

Beth Brearley
clock 24 April 2025 • 2 min read
 MorganAsh introduces customer support tracking to vulnerability platform

MorganAsh introduces customer support tracking to vulnerability platform

Recording suggested next steps

Jaskeet Briah
clock 24 April 2025 • 2 min read