Experts say

Simon Massey, Wealth Management Director at MetLife

“It might sound strange to plan for retirement not long after you’ve started your career, but by doing so younger people can put themselves at an enormous advantage later on. So it’s great to see that younger people are becoming more engaged, although there’s clearly still a long way to go. The advice gap remains a concern for people of all ages, and I’d encourage everyone to review their financial goals and think seriously about how to achieve them."

Karen Barrett, chief executive of 

“Here we are actually seeing two advice gaps – the number of people who never consult a financial adviser, but also the perception in people’s minds about which financial issues are the most important in the longer term. Most who seek advice do so when buying a property, because they recognise that it’s a massive undertaking that affects them today, as well as for a long time to come. What consumers aren’t seeing so clearly are the even longer term issues, most notably retirement and inheritance, which could have an even greater impact. It’s great to see younger people becoming more engaged with their finances, but many could still benefit from seeking help with their finances. Some may still suffer from a narrow outlook. A fuller understanding of the value of advice could make a huge difference both in the future and right now."