According to new data, less than 9% of UK citizens received financial advice last year. The figures, published by the Financial Conduct Authority (FCA) in their Financial Lives report (published in May 2025), show that barely 8.6% of people received advice on pensions, investments or retirement planning during this period.
The fact that 17% of those surveyed did use government-supported services such as MoneyHelper would appear to indicate that there is a wide pool of people who stand to benefit from more specialised financial advice and guidance.
Further data has found that just under 61% of those surveyed with an excess of £10,000 in investable assets held around 75% of these in cash savings, rather than in investments; while a third of respondents with defined contribution pensions had saved less than £10,000.
The FCA noted that people who earned more were better placed to take measures to enhance their financial health in the longer term. It also observed that around 61% of the 1.7 million people who have sought advice from a debt management service claim their debts have become easier to handle. Moreover, the regulator recorded an increase in people with current accounts versus a decline in those being denied basic banking services.
If you are based in the North West region, and think you may require financial guidance or savings advice in Cheshire or Oswestry, contact our local team at Hartey Wealth Management to set up a personalised consultation.
