More than one in four Brits (26%) are not confident about how or where they could access trustworthy financial advice if they needed it, according to new research from Opinium. Almost one in seven (14%, rising to 22% among Gen Z) also say they know they need financial advice but have not yet taken any action.
Following the chancellor’s announcement of downgraded economic growth forecasts in the Spring Statement, a quarter of UK adults say they are worried about their finances (25%).
However, only one in twenty (5%) have accessed independent financial advice since the start of 2026, while another 5% have actively looked into getting financial advice. Only one in ten (10%) say they were already receiving financial advice.
Among the public at large, half (50%) do not think they need to access independent financial advice, but this halves to 27% among Gen Z, indicating the clear demand for financial advice among younger generations.
Among those who know they need to access financial advice but haven’t done so, a third (33%) cited concerns about the cost of advice, while nearly a quarter (23%) said they weren’t sure what kind of adviser they needed, or didn’t know any financial advisers (23%). One in five (21%) also said they were unsure what to ask an adviser, or that they had not had time to look into it (21%).
A quarter (27%) said that if they could access targeted support for free or for a low cost, they would still feel the need to access paid independent financial advice, rising to two in five (40%) among Gen Z.
Over half (57%) of Brits say they reviewed their personal finances at the start of this year, with budgeting for the year the main reason to do so (47%), followed by new financial goals (27%), planning for upcoming major expenses (25%) and dealing with debt (16%). Around 7% of those say that they hadn’t ever considered accessing financial advice before, but realised they need to as a direct result of reviewing their finances in the New Year, rising to 13% among Gen Z.
Matthew Howlett, research manager at Opinium, said: “The start of the year has prompted many people to take stock of their finances, but our findings highlight a notable advice gap. While a significant number recognise they need financial advice, many have yet to take the next step, often due to uncertainty around cost, where to start, or who to trust. This is particularly pronounced among younger adults, who show both higher levels of concern and greater openness to seeking advice. Overall, the data paints a picture of rising financial awareness, but with too many barriers still standing in the way of action.”
