UK consumers renew vote of confidence in independent financial advice sector

11 Nov 2013


  • Banks, friends and independent financial advisers are the most popular sources with Britons looking for financial information
  • Almost one in five Brits have sought advice from an independent financial adviser in the last five years
  • SIPPs, annuity purchases and inheritance tax planning are the areas consumers are least confident of tackling without professional advice
  • Only 24% of consumers are confident of taking out a SIPP without professional help
  •’s ‘how to choose an adviser’ checklist helps consumers get the most from meeting with an adviser

New research from’s GetAdvised campaign shows that independent financial advice has been a staple in the UK’s search for financial help and guidance. And according to, the find an adviser search, banks, friends and independent financial advisers top the list of most popular sources for Britons looking for financial information in the last five years. 

Almost one in five Brits (19%) have sought advice from an independent financial adviser in the last five years, rising to almost a quarter (24%) of the nation’s over 60s. Looking at the UK’s overall usage for advice, 29% of Brits state they’ve sought advice from a financial adviser in their lifetime.

Despite the rise of DIY finance offerings, when looking at consumers’ confidence in tackling their finances without professional help, the need for advice clearly stands out. While over half of the nation states they would be confident in arranging a residential mortgage without the help of an adviser, this number drastically reduces when looking at areas such as SIPPs, annuity purchases and inheritance tax planning, with 24%, 27% and 27% retrospectively.

Table 1: How confident would you be to tackle these areas without professional advice, simply by doing your own research?

Area of finance

% of consumer confident without professional advice



Annuity purchase


Inheritance tax planning


Auto-enrolment pension


Buy-to-let mortgage


Funds / stocks investment


Stocks & shares ISA


General tax planning


Company pension


Residential mortgage


Karen Barrett, Chief Executive of, comments: “It’s encouraging to see that for the past five years, UK consumers have continued to reach out to advisers for help and guidance. Our research has highlighted there are times when professional financial advice is essential in making the life decisions that can have a considerable financial impact. When it comes to SIPPs, annuity purchases and inheritance tax planning, consumers clearly feel least confident in making DIY decisions. These are areas where speaking to a financial adviser can make sure you make the right choices for your specific life goals.

“A simple chat with an adviser using our checklist can be the first step in helping you identify the ‘right’ financial adviser to help tackle your finances. They can help you make the right choices on some of the most important decisions of your life, saving you essential time and money in the long run. To find a whole of market financial adviser visit


Notes to editors:

*Research carried out by Opinium Research between 8 – 11 October 2013 among 2,000 nationally representative UK adults aged 18+

For more information contact:

Anna Schirmer/ Lisa Grando, Lansons Communications: 020 7294 3682

For expert commentary or case studies from over 200 media-friendly advisers, journalists should Bluebook - the media directory

Twitter: @unbiased_co_uk

LinkedIn: - Online networking for professional advisers

About, the professional advice website

The website launched in 1998 and rapidly became the UK’s leading online destination for consumers and businesses looking to find an adviser.  Now attracting over one million visitors a year, is the default adviser directory for consumer websites recommending their audience to ‘find an adviser’.


Unbiased Ltd promotes the benefits of financial and legal advice to consumers and businesses and would like to thank the following companies for their support:

Alliance Trust

Opinium Research



AXA Wealth

Royal London 360°

Bright Grey


Canada Life Ltd

Scottish Life

Legal & General

Standard Life Assurance Limited




Zurich Intermediary Group


Unbiased Ltd - Registered Office: 12-14 Berry St, London, EC1V 0AU.  Registered in England: No. 06775878.

Category: Financial Planning Tagged:

More press releases on Financial Planning